Gross Written Premium definition

Gross Written Premium means the gross premiums for the Subject Business written by Company less cancellations and return premiums.

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Gross Written Premium. (or “GWP”) means, in relation to any Policy, the total premium payable by an Insured Customer in respect thereof less any Tax/levy and cancellations/refunds;

Gross Written Premium means any and all amounts charged to a Policyholder or other Person on or with respect to a Covered Insurance Policy that are required to be reported as premium on the statutory financial statement of the Purchaser or its Insurer Affiliates, as the case may be, in accordance with Applicable Law, exclusive of any surcharges, however described, that are billed on behalf of, and the extent remitted to, any Governmental Authority, less any such amounts returned for cancellation of any such Covered Insurance Policy.

Examples of Gross Written Premium in a sentence

• With respect to the Performance Goals, the applicable rating shall be determined as follows: (i) 21.5% shall be based on the Cumulative Cirrata EBITDA; (ii) 21.5% shall be based on the Cumulative Everspan EBITDA; (iii) 21.5% shall be based on WLACC Outstanding at December 31, 2025; (iv) 17.75% shall be based on the Cumulative Gross Written Premium at Cirrata; and (v) 17.75% shall be based on the Cumulative Gross Written Premium at Everspan.

• Linear interpolation between payout multiples of Cumulative Cirrata EBITDA, Cumulative Everspan EBITDA, WLACC Outstanding, Cumulative Gross Written Premium at Cirrata, and Cumulative Gross Written Premium Everspan, as applicable, will result in a proportionate number of the Target Performance Units (and associated Dividend Equivalents) becoming Earned Performance Units (and Earned Dividend Equivalents).

• Commission as defined under Clause 8.i. below may be deducted from the Gross Written Premium in accordance with the Act before paying over such premium to GENRIC.

• For the avoidance of doubt, no Supplemental Sales Commission shall be payable in respect of Gross Written Premium for the calendar year ending 31st December 2003.

• For the reinsurance business assumed by PRe from MSRE under the terms and conditions of this Agreement, PRe authorizes MSRE to deduct from the Ceded Net Written Premium a retrocession commission payable to MSRE of [***Confidential Treatment Requested***] of the Gross Written Premium for each Cedent Reinsurance Agreement written or renewed under this Agreement (the “MSRE Retrocession Commission”).

More Definitions of Gross Written Premium

Gross Written Premium means (a) any and all amounts received, less cancellations and returns, in connection with the Personal Lines Business that are required to be reported as direct or assumed premium on the statutory financial statement of National General or its insurance company Affiliates, as the case may be, in accordance with Applicable Law, and (b) as of the Effective Time, unearned premium assumed or written in connection with the Cut-Through Quota Share Agreement or the Pre-Closing MGA Agreement.

Gross Written Premium means (a) any and all amounts received, less cancellations and returns, in connection with the Personal Lines Business that are required to be reported as direct or assumed premium on the statutory financial statement of National General or its insurance company Affiliates, as the case may be, in accordance with Applicable Law, and (b) as of the Effective Time, unearned premium assumed or written in connection with the Cut-Through Quota Share Agreement or the Pre- Closing MGA Agreement.

Gross Written Premium means gross premium written less cancellations and return premiums. For purposes of clarification and not limitation, the Premium Percentage is net of all commissions and is calculated as provided in Schedule 1 attached hereto. PROFIT COMMISSION: The Reinsurer shall pay the Reinsured, on the day that is one business day prior to the day the Profit Commission (as defined in the Agency Agreement) is payable by the Reinsured to the Agent pursuant to Section 5.1 of the Agency Agreement, an amount equal to such Profit Commission.

Gross Written Premium means the total premium written before deducting commissions;

Gross Written Premium means the amount paid or payable by, or on behalf of, policyholders for home insurance in the United Kingdom, in sterling, before the deduction of any amount including any commission by any party but excluding insurance premium tax;

Gross Written Premium means in the case of external insurers the gross written premium related to Cayman risk less refunds collected, and in the case of locally incorporated insurers the gross written premium related to worldwide risk less refunds issued;

Gross Written Premium means the premium registered in the accounts of the company, in accordance with an insurance contract prior to subtracting the commission, expenses of taking in insurance and ceded premiums in reinsurance.