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 2
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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