General Account Reserves definition
General Account Reserves has the meaning set forth in the Reinsurance Agreement.
General Account Reserves means the general account statutory reserves of the Company (without regard to the transactions contemplated by this Agreement) with respect to the General Account Liabilities determined pursuant to SAP, as such reserves would have been included in lines 1 and 13 of the Liabilities, Surplus and Other Funds page of the NAIC Annual Statement Blank (2003 Format).
General Account Reserves means the general account statutory reserves of the Company before reduction for accrued for expense allowances recognized in Separate Account Reserves (without regard to the transactions contemplated by this Agreement) with respect to the Policies or Post-Closing Policies, as applicable, determined in accordance with Connecticut SAP.
Examples of General Account Reserves in a sentence
Cedent, on its own initiative, shall not change (a) the terms and conditions of any Coinsured Contracts or (b) the assumptions and methods used by Cedent to establish the General Account Reserves.
All such General Account Reserves will be accounted for by the Company as ceded reinsurance and by Reinsurer as coinsured reinsurance.
As to Policies in force on the Effective Time, the Company has transferred to the Reinsurer amounts in accordance with the provisions of Section 2.02(b) of the Transfer Agreement with respect to the General Account Reserves over the dollar amount of Policy Loans (to the extent such loans constitute admitted assets under SAP), each as of March 31, 2002.
Reinsurer shall maintain General Account Reserves with respect to the Reinsured Contracts determined in accordance with generally accepted actuarial standards and all applicable Laws, rules and requirements for the filing of the Company's statutory financial reports in the Company's state of domicile.
The Third Party Accountant shall determine within 30 days the manner in which such item or items shall be treated on the Final Pricing Statement; provided, however, that the treatment of such items will be in accordance with the definitions of "Purchase Price," "General Account Reserves" and "Policy Loans" and Section 2.03(b) and that the dollar amount of each item in dispute shall be determined between the range of dollar amounts proposed by VFL and Purchaser, respectively.
More Definitions of General Account Reserves
General Account Reserves means, with respect to the Company, the amount of the reserves (other than any amount of reserves for Litigation or other Company Retained Liabilities) of the Business determined in accordance with Applicable SAP and appropriately includable in line items 1, 2, 3, 4.1, 4.2, 5, 10.1, 10.2 and 10.3 of the Liabilities, Surplus and Other Funds page of the NAIC Annual Statement Blank or in comparable line items in successor NAIC annual statement blanks.
General Account Reserves means the aggregate amount of general account reserves of the Ceding Company (without regard to the reinsurance provided hereunder) with respect to the General Account Liabilities net of Reinsurance Reserves, determined in accordance with SAP or Applicable Law of the Ceding Company Domiciliary State; provided, the term “General Account Reserves” does not include the Separate Account Reserves. For the avoidance of doubt, such General Account Reserves shall include the amounts for General Account Liabilities that would be reflected in lines 1 through 9.3 inclusive, column 1 and line 13, column 1, in the “Liabilities, Surplus and Other Funds” section of the NAIC statement blank used to prepare the Ceding Company’s balance sheet in its most recent Statutory Financial Statements, or if the line numbers are changed pursuant to relevant guidance from the NAIC, the successor to such line numbers, excluding amounts that would be reflected on line 4 for incurred but unreported claims reserves in respect of claims incurred prior to the Effective Time.
General Account Reserves means the general account statutory reserves of Cedent (without regard to this Agreement) with respect to the Coinsured Contracts determined pursuant to Connecticut SAP, as such reserves would have been included in lines 1, 2, 3, 4.1, 4.2, 5, 6, 7.1, 7.2, 7.3, 8, 9, 10.1, 10.2, 10.3, 11.1, 11.2, 11.3 and 11.4 of the Liabilities, Surplus and Other Funds page of the NAIC Annual Statement Blank (1996 format), excluding however, any general account statutory reserve adjustments in relation to Cedent Separate Account Liabilities.
General Account Reserves means the aggregate amount of general account reserves of the Company with respect to the General Account Liabilities (without regard to the reinsurance provided hereunder), determined in accordance with Nebraska SAP; provided, the term “General Account Reserves” does not include the Separate Account Reserves. For the avoidance of doubt, such General Account Reserves shall include the amounts for General Account Liabilities that would be reflected in lines 1 through 4 inclusive, column 1, in the “Liabilities, Surplus and Other Funds” section of the NAIC statement blank used to prepare the Company’s statutory balance sheet as of December 31, 2012, or if the line numbers are changed pursuant to relevant guidance from the NAIC, the successor to such line numbers.
General Account Reserves means, as of any specified time, the General Account statutory reserves of VFL (without regard to the transactions contemplated by this Agreement or any pooling or similar agreement between VFL and any Affiliate insurance company) with respect to the Insurance Contracts as of such time, and consisting of the items set forth in Schedule 1.01(c) attached hereto, with each such item being determined in accordance with SAP and, to the extent not in violation of SAP, strictly in accordance with the accounting, actuarial and other methods, practices and principles used in computing the amounts set forth on Schedule l.0l(c).
General Account Reserves means the aggregate amount of general account reserves of the Ceding Company (without regard to the reinsurance provided hereunder) with respect to the General Account Liabilities determined in accordance with SAP and Applicable Law of the Ceding Company Domiciliary State; provided, the term “General Account Reserves” does not include the Separate Account Reserves; and provided, further, that General Account Reserves in respect of Reinsured Contracts that are structured settlement annuities will be calculated in accordance with Section 6(a) of Actuarial Guideline IX-B promulgated by the National Association of Insurance Commissioners.
General Account Reserves means, as of any date of determination, the aggregate amount of (i) general account reserves of the Ceding Company with respect to the Non-Financed Policies that would be reflected in lines 1 and 3, column 1 on the “Liabilities, Surplus and Other Funds” section of the Statutory Statement Blank; provided that with respect to the Regulatory Closed Block, such general account reserve shall include the statutory book value of the surplus in respect of such block determined in accordance with the Par Policy Requirements, , (ii) the Economic Reserves of the Financed Policies, and (iii) without duplication of the Economic Reserves, the reserve amounts or liability items that would be reflected in lines 4.1, 6, 8, 9.3, 9.4, 10, 13, 24.03, 24.07 and 25, column 1 on the “Liabilities, Surplus and Other Funds” section of the Statutory Statement Blank in respect Covered Insurance Policies calculated in accordance with SAP applicable to the Ceding Company, provided that the Interest Maintenance Reserve as of the Effective Time shall be equal to the sum of the Existing IMR and the Transaction IMR and, going forward, shall be determined in accordance with the definition thereof, in the case of each of items (i) through (iii), (A) determined in accordance with SAP applicable to the Ceding Company but without regard to the reinsurance provided hereunder, (B) net (without duplication) of the reserves reinsured by the Ceding Company under the Existing Reinsurance Agreements to the extent the Ceding Company receives Statutory Financial Statement credit for reinsurance under such Existing Reinsurance Agreements, determined in accordance with SAP applicable to the Ceding Company, and (C) excluding the Separate Account Reserves.