Statutory Capital and Surplus definition

Statutory Capital and Surplus means, as to any Insurance Subsidiary, as of any date, the sum (without duplication) of the total amounts shown (i) with respect to an Insurance Subsidiary not legally domiciled in the United States, the shareholders' equity of such Insurance Subsidiary as determined in accordance with GAAP (without regard to the requirements of FAS 115), and (ii) with respect to any other Insurance Subsidiary, on line 25, column 1, page 3 of the Annual Statement of such Insurance Subsidiary, or the sum of amounts determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.

Statutory Capital and Surplus means, as to any Insurance Subsidiary, the “surplus as regards policyholders” as of the end of each of its fiscal quarters, as reported on line 35, column 1, page 3 of the Annual Statement of such Insurance Subsidiary in the case of calculations made as of the last day of any fiscal year of such Insurance Subsidiary (or, with respect to any Non-U.S. Insurance Subsidiary, such other line, column or page of the Annual Statement as appropriate), or as determined in a consistent manner for any date other than one of which an Annual Statement is prepared.

Statutory Capital and Surplus means, with respect to any Insurance Subsidiary at any time, the capital and surplus of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, Page 3, Column 1, Line 38 of the Annual Statement).

Examples of Statutory Capital and Surplus in a sentence

• 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.

• 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”).

• The Parties agree that the adjustments contemplated by this Section are intended to show the change between the Final Closing Date Adjusted Statutory Capital and Surplus and Estimated Closing Date Adjusted Statutory Capital and Surplus and that such change can only be measured if each calculation is done in a manner consistent with this Agreement.

• The Company shall not permit the Combined Statutory Capital and Surplus of the Insurance Subsidiaries as of the end of any Fiscal Quarter to be less than $1,270,000,000.

More Definitions of Statutory Capital and Surplus

Statutory Capital and Surplus means the amount shown on page 3, line 26, column 1 of the annual statutory financial statements of the Company.

Statutory Capital and Surplus means, as to any Insurance Subsidiary, the "surplus as regards policyholders" as of the end of each of its fiscal quarters, as reported on line 27, column 1, page 3 of the Annual Statement of such Insurance Subsidiary in the case of calculations made as of the last day of any fiscal year of such Insurance Subsidiary, or as determined in a consistent manner for any date other than one of which an Annual Statement is prepared.

Statutory Capital and Surplus means the value set forth as ‘Total capital and surplus’ in the audited statutory financial statements as of June 30, 2004 of Safeco Life Insurance Company.

Statutory Capital and Surplus means capital and surplus determined in accordance with statutory accounting practices from time to time prescribed or permitted by the Texas Department of Insurance or the National Association of Insurance Commissioners for stock property and casualty insurance companies in Texas.

Statutory Capital and Surplus means, at any time, the amount which is (or would be) set forth under the caption "Total" of common and preferred capital stock and surplus on line 38 of a Convention Statement of CHLIC prepared as of such date.

Statutory Capital and Surplus means, as to any Insurance Subsidiary as of any date, the amount shown on line 38, column 1, page 3, of the 2000 Annual Statement of that Insurance Subsidiary, or the sum of amounts determined in a manner consistent with that contemplated there, for any date other than one as of which an Annual Statement is prepared.

Statutory Capital and Surplus as of any given date, the total capital and surplus of the Company, as determined in accordance with State Statutory Accounting Practices consistently applied.