Statutory Book Value definition

Statutory Book Value has the meaning set forth in the Indemnity Reinsurance Agreement.
Statutory Book Value means, with respect to any asset held in the Trust Account, the amount permitted to be carried by the Reinsurer as an admitted asset consistent with SAP applicable to the Ceding Company, consistently applied.
Statutory Book Value means the carrying value of the subject asset or liability on the books of the Reinsurer for statutory statement purposes determined in accordance with the statutory accounting principles and practices prescribed by the Reinsurer’s state of domicile, consistently applied.

Examples of Statutory Book Value in a sentence

  • On the date during which the applicable Effective Time for such Novated Contracts occurs, the Ceding Company shall transfer to the Assuming Company assets with a Statutory Book Value equal to the Funds Withheld Account Balance or NI Modco Accounts Balance, as applicable, with respect to such Novated Contracts.

  • If the Ceding Company determines that any ModCo Assets have become impaired for purposes of determining Statutory Book Value and such impairments exceed $10,000,000 in the aggregate as respects any Accounting Period (a “Significant Impairment”), the Ceding Company shall notify the Reinsurer as promptly as practicable after such determination and in no event later than ten (10) Business Days following the last day of such Accounting Period.

  • Each Independent Valuation Expert’s written decision as to the more reasonable Statutory Book Value of the Disputed Assets under the circumstances will be binding on the Parties.

  • The Independent Valuation Experts shall evaluate which of the Parties’ two (2) determinations with respect to the Statutory Book Value of the relevant ModCo Assets (the “Disputed Assets”) is more reasonable in light of the evidence provided by both Parties in connection with their respective submissions to such Independent Valuation Experts.

  • The fees and expenses of the applicable Independent Valuation Expert will be borne by the Party that such expert decides against in its determination of the more reasonable Statutory Book Value of the Disputed Assets.


More Definitions of Statutory Book Value

Statutory Book Value means, with respect to any ModCo Asset, as of the relevant date of determination, the carrying value thereof on the books of the Ceding Company determined in accordance with SAP as of such date, including any investment income due and accrued thereon, as such amount is adjusted in accordance with Section 4.1(f).
Statutory Book Value means with respect to any Eligible Asset, the dollar amount thereof stated on the Statutory Financial Statements as admitted assets of the Reinsurer, calculated in accordance with SAP applicable to the Reinsurer, but disregarding any permitted practices applicable to the Reinsurer; provided, that for any asset in the Trust Account that is not listed by the Securities Valuation Office of the NAIC, such asset will be deemed to have a Statutory Book Value of zero in the circumstances specified in the second bullet of Section X of the Investment Guidelines.
Statutory Book Value shall have the meaning specified in the Coinsurance Agreement.
Statutory Book Value means the amount carried in respect of such asset by the Reinsurer as an admitted asset determined in accordance with Illinois SAP, but disregarding any permitted practices applicable to the Reinsurer, other than those of general applicability to life insurer in the State of Illinois. The Statutory Book Value of the assets to be transferred as part of the Commutation Consideration shall be determined as provided in the Commutation Accounting Principles.
Statutory Book Value means (a) as to cash, the amount of such cash in United States dollars and (b) as to any other Asset, the carrying value of the subject Asset on the books of the Grantor for statutory statement purposes determined in accordance with the statutory accounting principles and practices prescribed by the Grantor’s state of domicile, consistently applied.
Statutory Book Value means, with respect to any investment asset held in the Account, as of any date of determination, the amount permitted to be carried by the Company determined in accordance with SAP, consistently applied, without regard to any permitted practice applicable to the Company.
Statutory Book Value means, as of any date of determination, (a) with respect to any cash or asset in the Funds Withheld Account, the carrying value of the subject asset as of such date of determination for purposes of the Cedant’s statutory financial statements, determined in accordance with Cedant SAP and (b) with respect to any cash or asset in the OC Account, the carrying value of the subject asset as of such date of determination for purposes of the Reinsurer’s statutory financial statements, determined in accordance with Reinsurer SAP.