Statement of Actuarial Opinion definition

Statement of Actuarial Opinion means, with respect to the Restricted Subsidiaries, the Statement of Actuarial Opinion required to be filed with the Applicable Insurance Regulatory Authority in accordance with state law or, if such Applicable Insurance Regulatory Authority shall no longer require such a statement, information equivalent to that required to be included in the Statement of Actuarial Opinion that was filed immediately prior to the time such statement was no longer required.
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Statement of Actuarial Opinion means the opinion of a qualified actuary, as that term is defined in the Annual Statement Instructions, Property/Casualty of the NAIC Actuarial Opinion, as to the loss and loss adjustment reserves of a property and casualty insurer, which opinion is filed by the insurer with its Statutory Annual Statement.
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Statement of Actuarial Opinion means the actuarial opinion
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Examples of Statement of Actuarial Opinion in a sentence

  • An “appointed actuary” is a qualified actuary who is appointed or retained to prepare the Statement of Actuarial Opinion required by this regulation, either directly by or by the authority of the board of directors through an executive officer of the company other than the qualified actuary.

  • An "appointed actuary" is a qualified actuary who is appointed or retained to prepare the Statement of Actuarial Opinion required by this Regulation; either directly by or by the authority of the board of directors through an executive officer of the company other than the qualified actuary.

  • The external actuary signs an annual Statement of Actuarial Opinion on the sufficiency of the Syndicate’s reserves.

  • An “Appointed Actuary” is a Qualified Actuary who is appointed or retained to prepare the Statement of Actuarial Opinion required by this Rule, either directly by or by the authority of the board of directors through an executive officer of the company other than the Qualified Actuary.

  • The individual37 who prepares the Statement of Actuarial Opinion shall be a Fellow of the38 Casualty Actuarial Society, a member in good standing of the American39 Academy of Actuaries, or an individual who has demonstrated competence40 in loss reserve evaluation to the Commissioner.

  • The Actuarial Certification must be completed in accordance with the NAIC Model Actuarial Opinion and Memorandum Regulation for the Statement of Actuarial Opinion.

  • When a public service actuary issues a Statement of Actuarial Opinion (SAO), the public service actuary has the same obligation as a non-public service actuary to comply with the General or Specific Qualification Standards.

  • When the carried reserve amount is greater than the maximum amount that the Appointed Actuary believes is reasonable, the Appointed Actuary should issue a Statement of Actuarial Opinion that the carried reserve amount does not make a reasonable provision for the liabilities associated with the specified reserves.

  • Further, if the actuary’s statement includes opinions regarding amounts for items other than loss and loss adjustment expense reserves, ASOP No. 36 applies only to the portion of the Statement of Actuarial Opinion that relates to loss and loss adjustment expense reserves.

  • When, in the Appointed Actuary’s opinion, the reserves for a certain item or items are in question because they cannot be reasonably estimated or the Appointed Actuary is unable to render an opinion on those items, the Appointed Actuary should issue a qualified Statement of Actuarial Opinion.


More Definitions of Statement of Actuarial Opinion

Statement of Actuarial Opinion of each Material Insurance Subsidiary that is a Domestic Subsidiary which is provided to the applicable Department (or equivalent information should such Department no longer require such a statement) as to the adequacy of loss reserves of such Material Insurance Subsidiary, which opinion shall be in the format prescribed by the Insurance Code.
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Statement of Actuarial Opinion with respect to any Insurance Subsidiary, the Statement of Actuarial Opinion required to be filed with the Applicable Insurance Regulatory Authority in accordance with state law or, if such Applicable Insurance Regulatory Authority shall no longer require such a statement, information equivalent to that required to be included in the Statement of Actuarial Opinion that was filed immediately prior to the time such statement was no longer required.
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Related to Statement of Actuarial Opinion

  • Actuarial opinion means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with subrule 5.34(6) and with applicable actuarial standards.

  • Actuarial certification means a written statement by a member of the American Academy of

  • Statement of Account means the Bank’s monthly or other periodic statement sent to the Cardholder showing particulars of the Current Balance payable to the Bank.

  • Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

  • GLJ Report means the independent engineering reserves evaluation of certain oil, NGL and natural gas interests of the Company prepared by GLJ dated February 11, 2022 and effective December 31, 2021.

  • Financial Officer Certification means, with respect to the financial statements for which such certification is required, the certification of the chief financial officer of Company that such financial statements fairly present, in all material respects, the financial condition of Company and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

  • Second opinion means an opportunity or requirement to obtain a clinical evaluation by a provider other than the one originally making a recommendation for a proposed health service to assess the clinical necessity and appropriateness of the initial proposed health service.

  • Actuarial reserve means a method of financing a pension or

  • Audited Balance Sheet means the audited balance sheet of the company prepared for the purposes of the Companies Acts for a financial year unless an audited consolidated balance sheet dealing with the state of affairs of the company and its subsidiary undertakings required to be dealt with in group accounts has been prepared for those purposes for the same financial year, in which case it means that audited consolidated balance sheet, and in that case all references to reserves shall be deemed to be references to consolidated reserves;

  • Additional Form 10-K Disclosure As defined in Section 11.05.

  • Form 10-K Certification As defined in Section 4.03(e).

  • MI Report means a report containing Management Information submitted to the Authority in accordance with Framework Schedule 8 (Management Information);

  • Statement of SEN means a statement made under section 324 of the Education Act 1996.

  • Additional Insolvency Opinion shall have the meaning set forth in Section 4.1.30(c) hereof.

  • Responsible Officer Certification means, with respect to the financial statements for which such certification is required, the certification of a Responsible Officer of the Borrower that such financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of the Borrower as at the dates indicated and its consolidated income and cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

  • Tax Compliance Certificate as defined in Section 5.9.2(b)(iii).

  • Pick Up Report means the report detailing the number of sleeping rooms per day actually used out of the Program’s room block.

  • Annual Accountant’s Report is defined in Section 3.04(a) of the Servicing Agreement.

  • Actuarial valuation means a mathematical determination of

  • Section 404 Report means management’s report on “internal control over financial reporting” as defined by the SEC and the related attestation report of the independent certified public accountant as described in Section 3(A)(1).

  • Unaudited Balance Sheet has the meaning set forth in Section 3.4(a)(ii).

  • Tax Certification Forms means any forms or other documentation as may be issued or required by a Tax Authority or by us from time to time to confirm your tax status [or the tax status of a Connected Person].

  • Supplemental Report means a Supplemental Report delivered by the Issuer to Treasury pursuant to the Definitive Agreement.

  • Withdrawal Opinion of Counsel has the meaning assigned to such term in Section 11.1(b).

  • Certificate of a Firm of Independent Public Accountants means a certificate signed by an independent public accountant or a firm of independent public accountants who may be the independent public accountants regularly retained by the Company or who may be other independent public accountants. Such accountant or firm shall be entitled to rely upon an Opinion of Counsel as to the interpretation of any legal matters relating to such certificate.

  • Insolvency Opinion means that certain non-consolidation opinion letter dated the date hereof delivered by Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP in connection with the Loan.