Separate Account Reserves definition

Separate Account Reserves means, as of any date of determination, the aggregate amount of statutory reserves of the Ceding Company with respect to the Separate Account Liabilities (as would be described in Line 1, column 1 of the Liabilities section and Exhibit 3 of the Statutory Financial Statements related to separate accounts of the Ceding Company (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2021)), calculated in accordance with the Ceding Company Domiciliary State SAP.

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Separate Account Reserves means the reserves associated with the Variable Policies which are held in the Company’s Separate Accounts, determined in accordance with Connecticut SAP.

Separate Account Reserves means the aggregate amount of reserves and deposits of the Ceding Company attributable to the Separate Account Liabilities, calculated consistent with the reserve requirements, statutory accounting rules and actuarial principles applicable to the Ceding Company under applicable law.

Examples of Separate Account Reserves in a sentence

The dollar value of Record Units, Separate Account Reserves, and Variable Annuity payments may go up or down due to investment gain or loss.
From and after the Closing Date, the Ceding Company shall retain and own all assets contained in the Separate Accounts and shall hold the Separate Account Reserves with respect to the Reinsured Contracts that are funded, in whole or in part, by one or more of the Separate Accounts and such Separate Account Reserves shall be reported by the Ceding Company on its Separate Account balance sheets, consistent with the Ceding Company Domiciliary State SAP.
In accordance with Section 2.4 of this Agreement, there shall be no transfer of Separate Account Reserves or Separate Account Assets at the Closing.
The Company shall retain, control and own the Separate Account Reserves and all Separate Account Assets.
Notwithstanding anything to the contrary herein, effective as of the Effective Date the Company and the Reinsurer shall reinsure the Separate Account Reserves on a modified coinsurance basis, subject to the execution and delivery of the NY Modified Coinsurance Agreement; provided, however, that the Company shall retain, control and own all Separate Account Assets and Separate Account Reserves whether or not the NY Modified Coinsurance Agreement is executed and delivered.

More Definitions of Separate Account Reserves

Separate Account Reserves has the meaning set forth in the Reinsurance Agreement.

Separate Account Reserves means the reserves attributable to the Separate Account Liabilities, as determined in accordance with SAP.

Separate Account Reserves means the aggregate amount of reserves of the Ceding Company attributable to the Separate Account Liabilities, determined in accordance with SAP and Applicable Law of the Ceding Company Domiciliary State.

Separate Account Reserves has the meaning set forth in Section 6.2(a).

Separate Account Reserves. Reinsurer shall be responsible for transferring assets to and from the Separate Account pursuant to the Variable Annuity Contracts and the Administrative Services Agreement.

Separate Account Reserves means the statutory reserves of the Ceding Company with respect to variable Policies determined pursuant to accounting practices prescribed by applicable regulatory authorities and in accordance with sound actuarial practices, as such reserves would have been included in line 17 of the NAIC Separate Account Annual Statement Blank Page 3 (2019 format; or if the line numbers are changed pursuant to relevant guidance from the NAIC, the successor to such line numbers).

Separate Account Reserves means, as to each of the Companies, the separate account statutory reserves of such Company required to be maintained by such Company in its NAIC Annual Statement Separate Account Blank with respect to the Separate Account Liabilities.