Principal Insurance Subsidiary definition

Principal Insurance Subsidiary means each of Assured Guaranty Corp., a Maryland corporation, and Assured Guaranty (UK) Ltd., an English company.

Principal Insurance Subsidiary means: (i) the Subsidiaries of Bermuda Holdings in existence on the Issue Date; (ii) any other insurance company Subsidiary of Bermuda Holdings that becomes a "SIGNIFICANT SUBSIDIARY" as defined in Regulation S-X, as promulgated by the Commission; and (iii) any other Subsidiary of Bermuda Holdings that may succeed, by merger, consolidation or otherwise, to all or substantially all of the business of one or more of such persons as specified in (i) and (ii) above.

Principal Insurance Subsidiary means only Aetna Life Insurance Company and The Aetna Casualty and Surety Company, and any other Subsidiary of the Company which shall hereafter succeed by merger or otherwise to a major part of the business of one or more of the Principal Insurance Subsidiaries. The decision as to whether a Subsidiary shall have succeeded to a major part of the business of one or more of the Principal Insurance Subsidiaries shall be made in good faith by the board of directors of the Company or a committee thereof by the adoption of a resolution so stating, and the Company shall within 30 days of the date of the adoption of such resolution deliver to the Trustee a copy thereof, certified by the Corporate Secretary or an Assistant Corporate Secretary of the Company.

Examples of Principal Insurance Subsidiary in a sentence

• All such Statutory Statements present fairly, in all material respects, the financial condition of such Principal Insurance Subsidiary as at, and the results of operations for the fiscal year ended December 31, 1997, in accordance with statutory accounting practices prescribed or permitted by the Applicable Insurance Regulatory Authority.

• Principal Insurance Subsidiary: The term "Principal Insurance Subsidiary" shall mean only Aetna Life Insurance Company and The Aetna Casualty and Surety Company, 14 5 and any other subsidiary of the Company, including subsidiaries of subsidiaries, which shall hereafter succeed by merger or otherwise to a major part of the business of one or more of the Principal Insurance Subsidiaries.

• Shall cause each Principal Insurance Subsidiary on an individual basis to maintain at all times a Real Estate Concentration Ratio equal to or less than 50%.

• Shall cause (a) all Principal Insurance Subsidiaries on a combined basis to maintain at all times an aggregate Insurance Company Leverage Ratio of greater than 8.33%, and (b) each Principal Insurance Subsidiary on an individual basis to maintain at all times an Insurance Coverage Leverage Ratio of greater than 7.50%.

• Shall cause each Principal Insurance Subsidiary on an individual basis to maintain at all times Total Adjusted Capital equal to or greater than 270% of Authorized Control Level RBC.

More Definitions of Principal Insurance Subsidiary

Principal Insurance Subsidiary means AFLIAC, Citizens, FAFLIC ------------------------------ and Hanover.

Principal Insurance Subsidiary means: (i) the Subsidiaries of - Bermuda Holdings in existence on the Issue Date; (ii) any other insurance -- company Subsidiary of Bermuda Holdings that becomes a "significant subsidiary" as defined in Regulation S-X, as promulgated by the Commission; and (iii) any --- other Subsidiary of Bermuda Holdings that may succeed, by merger, consolidation or otherwise, to all or substantially all of the business of one or more of such persons as specified in (i) and (ii) above.

Principal Insurance Subsidiary in Section 101, Definitions, of Article One is amended to read in its entirety as follows:

Principal Insurance Subsidiary means each of Old Republic Insurance Company, Old Republic National Title Insurance Company, Republic Mortgage Insurance Company, Bituminous Casualty Corporation and Great West Casualty Company and any successor to all or a principal part of the business or properties of any thereof."

Principal Insurance Subsidiary means each Subsidiary of the Company that (i) bears risk in connection with the business of selling, issuing or underwriting insurance or reinsurance and (ii) has assets or annual revenues in excess of $1,000,000. On the date hereof, the Principal Insurance Subsidiary is Tower Insurance.

Principal Insurance Subsidiary means (a) any of Old Republic Insurance Company, Old Republic General Insurance Corporation, Bituminous Fire and Marine Insurance Company, Bituminous Casualty Corporation, Great West Casualty Company, Republic Mortgage Insurance Company, Old Republic National Title Insurance Company, Old Republic Indemnity Limited and Old Republic Mortgage Insurance Co. of North Carolina, and (b) any other Insurance Subsidiary with a Statutory Surplus equal to or in excess of $75,000,000 at such time.

Principal Insurance Subsidiary means each of Old Republic Life Insurance Company, Old Republic Insurance Company, Old Republic Life Insurance Company of New York, Title Insurance Company of Minnesota, Republic Mortgage Insurance Company, Bituminous Casualty Corporation and Great West Casualty Company and any successor to all or a principal part of the business or properties of any thereof.