Modified Coinsurance Reserve definition

Modified Coinsurance Reserve means the sum of the Net Statutory Reserve for each of the types of Business Reinsured within the General Account Modified Coinsurance Business, each multiplied by the applicable Quota Share for the type of Business Reinsured.

Modified Coinsurance Reserve equals the Reinsurer's quota share of the greater between the Statutory Reserve and the Account Value.

Modified Coinsurance Reserve as used in this Agreement, shall mean an amount equal to the Separate Account Value (as defined in Paragraph 5 below).

Examples of Modified Coinsurance Reserve in a sentence

• The Ceding Company will retain, control and own all assets held in relation to the Modified Coinsurance Reserve.

• The Reinsurer shall report the portion of the Tax Reserve allocated to the Coinsurance Reserve on its tax returns and the Ceding Company shall report the portion of the Tax Reserve allocated to the Modified Coinsurance Reserve on its tax returns.

• Such reports will include information on the amount of Reinsurance Premiums, Allowance for Commissions and Expenses, Benefit Payments, Modified Coinsurance Reserve, Modified Coinsurance Reserve Adjustment, and the increase in the CARVM Allowance for the Reinsured Policies.

• Such reports shall include information on the amount of the Reinsurance Premium, the Allowance, Benefit Payments, Modified Coinsurance Reserve, Modified Coinsurance Reserve Investment Credit, and the book value of the Asset Portfolio.

• The "Modified Coinsurance Reserve" equals the Reinsurer's quota share of the greater between the Statutory Reserve and the Account Value.

More Definitions of Modified Coinsurance Reserve

Modified Coinsurance Reserve means the statutory reserve for the obligations reinsured pursuant to Section 3.02 "Net Coinsurance Reserve" shall have the meaning ascribed to that term in Section 5.01.

Modified Coinsurance Reserve as used in this Agreement, means the product of (i) times [(ii) plus (iii)], where:

Modified Coinsurance Reserve means the General Account Reserves and the Separate Account Reserves held by the Ceding Company.

Modified Coinsurance Reserve means the statutory reserve for the obligations reinsured pursuant to Section 3.02.

Modified Coinsurance Reserve as used in this Agreement, means a quota share of the statutory reserve held by the Ceding Company with respect to that portion of the annuities reinsured hereunder. The statutory reserve will be determined by the then applicable Commissioners Annuity Reserve Valuation Method, excluding any reserve for the minimum guaranteed death benefit.

Modified Coinsurance Reserve as used in this Agreement, means the Quota Share of the aggregate Account Value of the Annuities.

Modified Coinsurance Reserve as used in this Agreement, means the statutory reserve on the portion of the policies reinsured hereunder. The term “statutory reserve” as used in this Agreement, means the total Separate Account and General Account reserves calculated by Ceding Company under its state insurance regulations and in accordance with accepted actuarial industry practices. The General Account reserves and liabilities reinsured hereunder include the basic reserves for the General Account as well as any additional reserves such as for substandard risks, minimum death benefit Guarantees, and AIDS reserve. The General Account Reserves can be found on Line 1, Page 3 of the Annual Statement. The Separate Account Reserves consist of the sum of Line 27, the insert for Line 13A, and Line 25.02 of Page 3 of the Annual Statement.