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 Gross Premium Valuation (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.

  • 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.

  • 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).

  • 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).

  • 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.

  • The Issue: The secured Creditor Objected to Confirmation of the Chapter 13 Plan because it contended that the model Plan adopted by Northern District of Illinois impermissibly modified the rights of the secured Creditor to administer and enforce the terms of its home Mortgage loan.

  • The Stochastic Reserve equals the amount determined by applying a 65 CTE measure to the Scenario Gross Premium Reserve amounts resulting from a broad range of stochastically generated interest rate and equity scenarios and Prudent Best Estimate assumptions.

  • 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.

  • 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.

  • 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.


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 for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • 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.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Initial Reserve Account Deposit means $3,250,000.

  • 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 means, 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 two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • 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)]

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Required Reserves at any time means the product of (x) the Net Pool Balance and (y) the greater of (I) 13.00% and (II) the sum of (a) the Yield Reserve Ratio, plus (b) the Servicing Fee Reserve Ratio, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

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

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • 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.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Interest Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.