Group Supervision Rules definition

Group Supervision Rules means the Bermuda Insurance (Group Supervision) Rules 2011, as those rules and regulations may be amended or replaced from time to time.

Group Supervision Rules the Insurance (Group Supervision) Rules 2011 of Bermuda, as those rules may be amended from time to time.

Group Supervision Rules means the Insurance (Group Supervision) Rules 2011 of Bermuda, as those rules and regulations may be amended or replaced from time to time. “Insurance Act” means the Bermuda Insurance Act 1978, as amended from time to time.

Examples of Group Supervision Rules in a sentence

• This report was produced in accordance with the requirements set out in the Insurance (Public Disclosure) Rules 2015 and in the Insurance (Group Supervision) Rules 2011 (collectively “the Rules”).

• Prior to the Merger, ESIL together with its affiliates and Endurance were registered with the Bermuda Monetary Authority as the Endurance Group for the purposes of the supervision requirements of the Insurance (Group Supervision) Rules 2011.

• Oversight of those assumptions at the Group level is provided by the Group Valuation Actuary (who is also the Approved Actuary in line with the requirements of the BMA Group Supervision Rules).

• This instrument has no approval for Argo Re. The Bermuda Monetary Authority recognized these legacy hybrid capital instruments under Insurance (Group Supervision) Rules 2011 and the Insurance (Eligible Capital) Rules 2012.

• This Financial Condition Report (FCR) is based on Rules 30 to 32 of the Bermuda Monetary Authority’s (BMA) Insurance (Group Supervision) Rules 2011 which came into effect on January 1, 2016.

• Better environmental management will improve livelihoods, health and wellbeing and contribute to sustainable economic growth.

• The CISSA and GSSA regulations are embedded within the Insurance (Prudential Standards) Rules and the Insurance (Group Supervision) Rules 20115, respectively.

• While providing oversight and compliance auditing of the fraud, waste and abuse efforts, the Department Office of Compliance and Program Integrity will continue to provide mandated fraud, waste and abuse investigations and auditing services for NC Medicaid Direct not transitioned to NC Medicaid Managed Care.

• However, certain sections came into operation on January 16, 2012 which include that every insurance group must prepare (a) consolidated financial statements of the parent company of the group, (b) financial statements of the parent company of the group, and (c) annual statutory financial return, each of which is to be prepared in accordance with the Group Supervision Rules.

• The Bermuda Monetary Authority recognized these legacy hybrid capital instruments under Insurance (Group Supervision) Rules 2011 and the Insurance (Eligible Capital) Rules 2012.

More Definitions of Group Supervision Rules

Group Supervision Rules. “Insolvency Event,” “Insurance Group,” “Scheduled Maturity Date,” “Solvency Capital Requirement” and “Tier 2 Capital.” Interest Rate: From (and including) June 29, 2017 to (but excluding) June 29, 2027 at a rate per annum of 3.250%. From (and including) June 29, 2027 to (but excluding) the Final Maturity Date, at a rate per annum equal to three-month EURIBOR plus 2.900%. Interest Payment Dates: Interest on the notes will be payable annually in arrears on June 29 of each year, beginning on June 29, 2018 and ending on June 29, 2027. Thereafter, interest on the notes will be payable quarterly in arrears on March 29, June 29, September 29 and December 29 of each year, beginning on June 29, 2027 and continuing through the Final Maturity Date. Day Count: From (and including) June 29, 2017 to (but excluding) June 29, 2027, Actual/Actual (ICMA). From (and including) June 29, 2027 to (but excluding) the Final Maturity Date, Actual/360. Public Offering Price: 99.054% Reference Mid-swap: 10-year Euro Mid-swap Reference Mid-swap Rate: 0.713% Re-offer Spread vs. Mid-swap: 265 bps Benchmark Bund: 0.250% due February 15, 2027 Benchmark Bund Rate: 0.253% Re-Offer Spread vs. Benchmark Bund: 311.0 bps Net Proceeds (Before Expenses) to Issuer: €492,770,000 Optional Interest Deferral: The Issuer may defer interest payments on the subordinated notes, from time to time, for one or more periods, so long as no event of default or mandatory deferral event has occurred and is continuing. Any accrued interest, the payment of which is so deferred, so long as such interest remains unpaid, will constitute Arrears of Interest. During any optional deferral period, the Issuer and the Guarantor and their respective majority-owned subsidiaries will be restricted from making certain payments, as described in the “Description of the Subordinated Notes and Guarantee- Deferral of Interest Payments; Arrears of Interest-Limitation on Restricted Payments” in the prospectus supplement.

Group Supervision Rules means the Bermuda Insurance (Group Supervision) Rules 2011, as those rules and regulations may be amended or replaced from time to time. “Insurance Act” means the Bermuda Insurance Xxx 0000, as amended from time to time. “Insurance Group” means all subsidiaries of the Guarantor that are regulated insurance or reinsurance companies (or part of such regulatory group) pursuant to the Applicable Supervisory Regulations.

Group Supervision Rules means the Bermuda Insurance (Group Supervision) Rules 2011, as those rules and regulations may be amended or replaced from time to time. (z) “Insurance Act” means the Bermuda Insurance Xxx 0000, as amended from time to time. (aa) “Insurance Group” means all of the subsidiaries of the Company that are regulated insurance or reinsurance companies (or part of such regulatory group) pursuant to the Applicable Supervisory Regulations. (bb) “Issue Date” means [●], 202[●], the initial date of issuance of the Series B Preference Shares. (cc) “Junior Shares” means any class or series of shares of the Company that ranks junior to the Series B Preference Shares either as to the payment of dividends or as to the distribution of assets upon any liquidation, dissolution or winding-up of the Company. As of the Issue Date, the Company’s Junior Shares outstanding consist of its Common Shares and its Series A Preference Shares. (dd) “Liquidation Preference” has the meaning specified in Section 6(b). (ee) “Memorandum of Association” means the memorandum of association of the Company, as it may be amended from time to time. (ff) “Nonpayment Event” has the meaning specified in Section 9(b). (gg) “Parity Shares” means any class or series of shares of the Company that ranks equally with the Series B Preference Shares as to the payment of dividends and as to the distribution of assets on any liquidation, dissolution or winding-up of the Company. As of the Issue Date, there are no Parity Shares of the Company outstanding. 4

Group Supervision Rules means the Insurance (Group Supervision) Rules 2011 of Bermuda, as those rules and regulations may be amended or replaced from time to time. “Insurance Act” means the Bermuda Insurance Act 1978, as amended from time to time. “Insurance Group” means all subsidiaries of the Issuer that are regulated insurance or reinsurance companies (or part of such regulatory group) pursuant to the Applicable Supervisory Regulations. “Special Mandatory Redemption End Date” means the later of (x) February 22, 2024 or (y) such later date to which the outside date for closing the Validus Transaction as set forth in the Stock Purchase Agreement may be extended in accordance with its terms. “Tier 3 Capital” means “Tier 3 Ancillary Capital” as set out in the Group Supervision Rules (or, if the Group Supervision Rules are amended so as to no longer refer to Tier 3 Ancillary Capital in this respect, the nearest corresponding concept (if any) under the Group Supervision Rules, as amended).

Group Supervision Rules means the Bermuda Insurance (Group Supervision) Rules 2011, as those rules and regulations may be amended or replaced from time to time.“Insurance Group” means all subsidiaries of Enstar Group Limited that are regulated insurance or reinsurance companies (or part of such regulatory group) pursuant to the Applicable Supervisory Regulations. CUSIP / ISIN: 29359U AB5 / US29359UAB52 Joint Book-Running Managers: Xxxxx Fargo Securities, LLC, HSBC Securities (USA) Inc., X.X. Xxxxxx Securities LLC, SunTrust Xxxxxxxx Xxxxxxxx, Xxx.Xxxxxxxx Capital Inc., nabSecurities, LLC Senior Co-Manager: Scotia Capital (USA) Inc. Co-Managers: Commonwealth Bank of Australia, ING Financial Markets LLC, Lloyds Securities Inc. Underwriting (Conflicts of Interest): Certain of the underwriters and/or their affiliates are expected to receive at least 5% of the net proceeds of this offering in connection with repayment of indebtedness under the Issuer’s revolving credit facility and/or under the Issuer’s term loan facility. Accordingly, these underwriters are deemed to have a “conflict of interest” under Rule 5121 of the Financial Industry Regulatory Authority, Inc. (“FINRA”). As such, this offering is being made in compliance with the requirements of Rule 5121.