Statutory Capital definition

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

  • Part III will discuss the discriminatory impact of the principles discussed in Part II, while Part IV will examine the different approaches and effects of policy adopted by the various states.

  • 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”).

  • Statutory Capital Pursuant to Basel III guidelines, the Bank of Thailand (BOT) requires all Thai commercial banks to hold a capital conservation buffer from January 1, 2016 onward.

  • The Company calculates statutory capital using the Bermuda Statutory Capital Requirement (BSCR) model.

  • The minimum solvency ratio, calculated as the ratio of Statutory Capital and Surplus to its Statutory Capital Requirement, is 100%.


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.
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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.
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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.
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Statutory Capital means an aggregate of the authorised capital and the General Reserve;
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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.
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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.
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Statutory Capital set forth in Subsection 1.1 of Credit Agreement is hereby amended by deleting that definition in its entirety and substituting therefor the following:
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