Gross Premium Reserve definition

Gross Premium Reserve or “GPR” means the present value as of the valuation date of expected benefits unpaid, expected expenses unpaid, and unearned or expected premiums, adjusted for future premium increases reasonably expected to be put into effect and including provision for moderately adverse developments. GPR is the reserve amount that results from performing a GPV. Expected expenses include commissions and premium taxes in the case of ANIC (which will be in rehabilitation), but not in the case of PTNA (which will be in liquidation and unable to pay them).
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Gross Premium Reserve or “GPR” means the present value as of the valuation date of expected benefits unpaid, expected expenses unpaid, and unearned or expected premiums, adjusted for future premium increases reasonably expected to be put into
Sample 1Sample 2Sample 3
Gross Premium Reserve or “GPR” means the present value as of the valuation date of expected benefits unpaid, expected expenses unpaid, and unearned or expected premiums, adjusted for future premium increases reasonably expected to be put into effect and including provision for moderately adverse developments. Expected expenses include commissions and premium taxes (if applicable). GPR is the reserve amount that results from performing a GPV. For a Self-sustaining Policy GPR is no more than the assets allocated to that policy under the Plan for calculation purposes only.
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Examples of Gross Premium Reserve in a sentence

  • Subsidiary operates in life insurance use Gross Premium Reserve with best estimate and margin for adverse deviation therefore liability adequacy test is not required.

  • The Shortfall Amount can also be expressed as a policy’s Gross Premium Reserve (GPR) less its Allocated Assets.

  • To develop estimates of Active Life Reserves for the Gross Premium Reserve, actuarial assumptions regarding key input variables to the gross premium valuation model were developed.

  • Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of securities (4)Previous noticePresent noticePerson's votesVoting power (5)Person's votesVoting power (5)ORD FULLY PAID SHARES22,237,698 3.

  • The Section headings used in this agreement are for convenience of reference only and shall not affect the construction of this LoanAgreement.

  • The effect of the voluntary modifications described in this Section necessary to make a Non-Self-Sustaining Policy Self-Sustaining will be to reduce the policy’s Gross Premium Reserve (GPR) to the amount the issuing Company can reasonably be expected to fund from its assets, which is referred to as the policy’s Initial Funded Restructured Policy Value (IFRPV).

  • Commentary on Question:To receive full credit, candidates had to correctly identify and calculate the components for the Net GAAP Liability and Gross Premium Reserve, recognize the block is in loss recognition and demonstrate an understanding of the required remediation steps.

  • Put another way, the Allocated Assets for the policy must equal or exceed the policy’s Gross Premium Reserve (i.e., the present value of expected future claims and expenses minus the present value of expected future premiums).

  • Case No. IT-04-74-T, Redacted and Public Version of Order onJadranko Prlić’s Motion to Extend His Provisional Release, 1 March 2012, p.5.

  • GAAP Reserve (original best estimate assumptions with PAD)= PV of Benefits – PV of Net Premiums= 2,200 – 1,100= 1,100 Net GAAP Liability= GAAP Reserve – DAC= 1,100 – 300= 800 Gross Premium Reserve (GPV, current best estimate assumptions without PAD)= PV of Benefits – PV of Gross Premiums= 2,300 – 1,200= 1,100 Block is in loss recognition since GPV > Net GAAP Liability.


More Definitions of Gross Premium Reserve

Gross Premium Reserve or “GPR” means the present value as of the valuation date of expected benefits unpaid, expected expenses unpaid, and unearned or expected premiums, adjusted for future premium increases reasonably expected to be put into effect and including provision for moderately adverse developments. GPR is the reserve amount that results from performing a Gross Premium Valuation (GPV). Expected expenses include commissions and
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Related to Gross Premium Reserve

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Loss Reserve means, on any day, an amount equal to (a) the sum of (i) the Aggregate Capital plus (ii) the LC Participation Amount at the close of business of the Servicer on such date multiplied by (b)(i) the Loss Reserve Percentage on such date divided by (ii) 100%, minus the Loss Reserve Percentage on such date.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • Rent Reserve with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to three months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Percentage and (ii) the Minimum Percentage, each as in effect at such time, multiplied by the Net Pool Balance on such date.

  • Replenishment Amount has the meaning assigned to such term in Section 2.06(b).

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.