Solvency Requirement definition

Solvency Requirement means the higher of (i) the solvency requirement, see section 124(2) of the Financial Business Act and (ii) an individual solvency requirement determined by the Danish Financial Supervisory Authority, see section 124(5) of the Danish Financial Business Act.
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Solvency Requirement means the higher of (i) the solvency requirement, cf. section 124(2) of the Financial Business Act, and (ii) an individual solvency requirement determined by the Danish Financial Supervisory Authority, cf. section 124(5) of the Financial Business Act.
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Solvency Requirement means the capital required by health insurance companies in India to meet the Solvency Ratio requirement set/ prescribed by the Authority, from time to time under the Applicable Law;
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Examples of Solvency Requirement in a sentence

  • Every Class 3A insurer shall appoint an individual approved by the Authority under subsection (3) who is qualified as a loss reserve specialist, to provide an opinion in accordance with the requirements of Schedule XIV “Statutory Economic Balance Sheet” of the Insurance (Prudential Standards) (Class 3A Solvency Requirement) Rules 2011.

  • With respect to Argo Group, the Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Amendment Rules 2012 provide for a phase-in over a period of six years, starting at 50% of the amount determined and increasing in 10% increments.

  • Under the CMA terms, WRL agrees to maintain in the Company, “Available Statutory Economic Capital and Surplus” in excess of 125% of its “Enhanced Capital Requirement” at all times as defined in the Insurance (Prudential Standards) (Class C, D and Class E Solvency Requirement) Rules 2011, up to an aggregate amount of $400,000.

  • Similar to the valuation principles for assets, Maiden’s liabilities follow the valuation principles outlined by the BMA in the Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Rules 2011 which values liabilities at a fair value basis.

  • Overview The Solvency Standard requires that the statutory fund of a life company has available a minimum level of net assets in excess of its liabilities - the Solvency Requirement - to provide for the security of the policy owners’ guaranteed entitlements under a range of adverse conditions.

  • The Solvency Requirement is determined by considering the various risks undertaken in the statutory fund which could impact the security of the policy owners’ entitlements, and requiring the provision of a prudent level of reserve against such risks.

  • Researchers and practitioners differ in the descriptions of engagement.

  • SECTION 6 Determination of the Solvency Requirement 6.1 The Solvency Requirement for a statutory fund is to be calculated as follows: (a) CALCULATE SOLVENCY LIABILITY Subject to paragraph 6.2, for each policy in force, determine the Solvency Liability and aggregate this across all policies in the Related Product Group.

  • The Solvency Requirement must provide a reserve - the Inadmissible Assets Reserve - in respect of: • an asset which has a value that is dependent upon the continuation of the business;• holdings in an associated entity which is a financial institution itself subject to legislated minimum capital requirements; and• the risks arising from asset concentration.

  • The amount of assets so required is referred to as the Solvency Requirement.


More Definitions of Solvency Requirement

Solvency Requirement. , for the FNPF, means the solvency requirement in section 32;
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Related to Solvency Requirement

  • Security Requirement means the amount in Dollars (as certified by the Agent whose certificate shall, in the absence of manifest error, be conclusive and binding on the Borrowers and the Creditors) which is, at any relevant time:

  • Security Requirements means the requirements regarding the security of Personal Data, as set out in the Data Protection Laws (including, in particular, the seventh data protection principle of the DPA and/ or the measures set out in Article 32(1) of the GDPR (taking due account of the matters described in Article 32(2) of the GDPR)) as applicable;

  • Solvency Capital Requirement means the Solvency Capital Requirement or the group Solvency Capital Requirement (as applicable) referred to in, or any other capital requirement (other than the Minimum Capital Requirement) howsoever described in, the Relevant Rules;

  • Resource Adequacy Requirements has the meaning set forth in Section 3.3.

  • Privacy Requirements means all applicable Privacy Laws and all of the Company’s and the Company Subsidiaries’ policies, notices, and contractual obligations relating to the Processing of Personal Information.

  • Authority Requirements means the operational requirements, functions and characteristics of the Framework set out in Schedule 1 (Statement of Requirements)

  • Safety Requirements means Prudent Electrical Practices, CPUC General Order No. 167, Contractor Safety Program Requirements, and all applicable requirements of Law, PG&E, the Utility Distribution Company, the Transmission Provider, Governmental Approvals, the CAISO, CARB, NERC and WECC.

  • Liquidity Requirement shall have the meaning as set forth in Section 2.12(b).

  • Data Security Requirements means, collectively, all of the following to the extent relating to Data Treatment, to any privacy, security, or security breach notification requirements applicable to the Company or any Retained Subsidiary, to the conduct of the Management and Franchise Business, or to any System: (i) PCI-DSS, (ii) the Company’s and the Retained Subsidiaries’ own rules and policies and (iii) applicable Law.

  • Mandatory City Requirements means those City laws set forth in the San Francisco Municipal Code, including the duly authorized rules, regulations, and guidelines implementing such laws that impose specific duties and obligations upon Contractor.

  • Capital Adequacy Requirement shall have the meaning given to that term in Section 2.11(d).

  • Perfection Requirement or “Perfection Requirements” shall have the meaning set forth in Section 4(j) of this Agreement.

  • Eligibility Requirement means all eligibility requirements and other qualification requirements for a person to act in the applicable Corporate Trust Capacity under any Appointment as set forth in the related Corporate Trust Contract, including any required authorizations or licenses from the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, the Federal Housing Administration, the Federal Home Loan Bank or the Department of Veterans Affairs.

  • MREL Requirement means the minimum requirement for own funds and eligible liabilities which is or, as the case may be, will be applicable to the Issuer;

  • Regulatory Capital Requirements means any applicable capital resources requirement or applicable overall financial adequacy rule required by the Relevant Regulator, as such requirements or rule are in force from time to time;

  • Eligibility Requirements means, with respect to any Person, that such Person has at least $200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 in total assets (in name or under management), and is regularly engaged in the business of making or owning commercial real estate loans (or interests therein), mezzanine loans (or interests therein) or commercial loans (or interests therein) similar to the Mortgage Loan.

  • Environmental and Safety Requirements means all federal, state, local and foreign statutes, regulations, ordinances and similar provisions having the force or effect of law, all judicial and administrative orders and determinations, all contractual obligations and all common law concerning public health and safety, worker health and safety and pollution or protection of the environment, including all such standards of conduct and bases of obligations relating to the presence, use, production, generation, handling, transport, treatment, storage, disposal, distribution, labeling, testing, processing, discharge, release, threatened release, control, or cleanup of any hazardous materials, substances or wastes, chemical substances or mixtures, pesticides, pollutants, contaminants, toxic chemicals, petroleum products or by-products, asbestos, polychlorinated biphenyls (or PCBs), noise or radiation.

  • OHS Requirements means all Laws applicable to the Supply and related to occupational health or safety, and all of the City Policies that relate to occupational health or safety, and includes without limitation the WCA;

  • Administrative Requirement means any required notice, filing or other similar administrative requirements (other than any requirement for Consent or any Eligibility Requirements) for the Transfer of any Appointment to the applicable Purchaser as set forth in the related Corporate Trust Contract.

  • Perfection Requirements means the making or procuring of filings, stampings, registrations, notarisations, endorsements, translations and/or notifications of any Finance Document (and/or any Security created under it) necessary for the validity, enforceability (as against the relevant Obligor or any relevant third party) and/or perfection of that Finance Document.

  • Privacy and Security Requirements means (a) all Privacy Laws; (b) all applicable Privacy Contracts, and (c) all applicable Privacy Policies.

  • Environmental, Health or Safety Requirements of Law means all Requirements of Law derived from or relating to foreign, federal, state and local laws or regulations relating to or addressing pollution or protection of the environment, or protection of worker health or safety, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq., the Occupational Safety and Health Act of 1970, 29 U.S.C. § 651 et seq., and the Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et seq., in each case including any amendments thereto, any successor statutes, and any regulations or guidance promulgated thereunder, and any state or local equivalent thereof.

  • Data Protection Requirements means all applicable (i) Data Protection Laws, (ii) Privacy Policies and (iii) those terms of any Contracts imposing obligations on the Company or its Subsidiaries with respect to the Company’s collection, use, storage, disclosure, or cross-border transfer of Personal Data.

  • Federal safety requirements means applicable provisions of 49 U.S.C. § 30101 et seq. and all

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Storage Injection Requirements means all volumes required by the Seller for injection into underground storage, including cushion gas, and for liquification, including fuel used for injection and in liquification plants, or for such other storage projects that may be developed expressly for the protection of supply to high priority users.