Statutory Capital means the sum of capital stock and paid-in-surplus of the MALPB, which, at all times, must be no less than $3 million.

Statutory Capital means, as to any Insurance Subsidiary, as of any date, the sum of its Statutory Surplus and its contingency reserve, in each case at such date.

Statutory Capital means, at any date, the sum of Statutory Surplus and the contingency reserve, in each case at such date.

Examples of Statutory Capital in a sentence

The Company calculates statutory capital using the Bermuda Statutory Capital Requirement (BSCR) model.
Each Material Insurance Subsidiary owns assets that qualify as admitted assets under applicable law in an amount at least equal to the sum of all such reserves and liability amounts and its minimum Statutory Capital and Surplus as required by the insurance laws, rules and regulations of its state of domicile.
If, within 15 Business Days after receipt by Seller of the certificate of the chief financial officer of Buyer of such determination of the Final Closing Date Adjusted Statutory Capital and Surplus, Seller agrees with such determination and so notifies Buyer, or if Seller shall fail to notify Buyer that it disagrees with such determination within such 15 Business Days, such determination shall be the Closing Date Adjusted Statutory Capital and Surplus.
Our Lady of Good Success – Matthew ArnoldOur Lady of Good Success appeared on several occasions in the early 17th century to Mother Mariana de Jesus Torres in Quito, Ecuador.
The total consideration to be paid by the Applicant in the Transaction shall be an amount equal to the difference of:1 (i) the sum of (A) an amount equal to the Closing Company Statutory Capital and Surplus Amount, plus (B) $20,000,000, less (ii) an amount equal to the Special Dividend Amount (the “Merger Consideration”).

More Definitions of Statutory Capital

Statutory Capital means the aggregate statutory capital and surplus of the Company as of the Closing Date, as determined in accordance with SAP and as would be required to be reflected on line 38, column 1 of the Company’s statutory financial statement if the Closing Date occurred on the last day of a calendar quarter.

Statutory Capital means Statutory Capital plus Statutory Surplus of the Insurance Subsidiaries as shown on the statutory financial statements filed with the states of Illinois and Arizona.

Statutory Capital means an aggregate of the authorised capital and the General Reserve;

Statutory Capital means, as of any date of determination, (i) the capital and surplus of OMFLIC determined in accordance with SAP (as reflected in line 38 of the “Liabilities, Surplus and Other Funds” page of the 2009 National Association of Insurance Commissioners’ Annual Statement Blank), plus (ii) the asset valuation reserve (as reflected in line 24.1 of such Annual Statement Blank), in each case as of such date.

Statutory Capital means the admitted assets over the liabilities of the Company, prepared in accordance with SAP applied on a basis consistent with the preparation of the audited Financial Statements and statutory reporting with the applicable domiciliary insurance Governmental Authorities to the extent not inconsistent with SAP, as illustrated on Schedule 1. Statutory Capital will be adjusted to the extent that the net admitted deferred Tax asset (after taking into account deferred Tax liabilities) is greater than zero.

Statutory Capital means, with respect to any Acquired Company, as of any date of determination, an amount equal to the total capital and surplus of such Acquired Company, calculated in accordance with the Accounting Principles, as of such date.

Statutory Capital at any date of determination, (i)(1) the amount set forth on line 3 of the Statutory Statement of Capital and Surplus in the Annual Return of LaSalle Re (or, if such statement shall be modified, the equivalent item on any applicable successor form) or (2) the amount identified as "Statutory Capital" on the Quarterly Certificate of LaSalle Re, whichever was most recently delivered to the Administrative Agent and the Lenders pursuant to subsection 5. 1, (ii) plus, to the extent it is excluded or deducted in the determination of the amount in clause (i) hereof, the amount of any preferred stock of LaSalle Re (including the Preferred Stock and the LaSalle Re Series A Preferred Shares) and (iii) less an amount equal to the outstanding Loans.