Statutory financial statement definition

Statutory financial statement means quarterly, annual or other financial statements required by state law.

Statutory financial statement means financial statements filed on either a quarterly or annual basis with the supervising insurance official, insurance department or insurance regulatory agency of the assuming insurer's state of domicile or, in the case of an alien assuming insurer, with the state through which it is entered and in which it is licensed to transact insurance or reinsurance. Any statutory financial statement required under this chapter shall be filed in accordance with the filing dates prescribed for the financial statements filed by licensed insurers pursuant to §§ 38.2-1300 and 38.2-1301 of the Code of Virginia.

Statutory financial statement with respect to any period means the N.A.I.C. form of Convention Statement of Financial Condition for Fire and Casualty Insurers prepared and filed by the Company with the Connecticut Insurance Department as of the final day of the period with respect to which such Convention Statement of Financial Condition pertains in accordance with the Statutory Accounting Principles prescribed or permitted by the Connecticut Commissioner, together with the related notes and schedules thereto.

Examples of Statutory financial statement in a sentence

• Each such Statutory Financial Statement was in material compliance with applicable law when filed.

• Each such Statutory Financial Statement was in compliance with applicable law when filed.

• Each such Statutory Financial Statement was in compliance in all material respects with all applicable Requirements of Law when filed.

• If the Parties are unable to resolve any such dispute prior to the date on which the Ceding Company is required to file a Statutory Financial Statement with an applicable insurance regulator, the Ceding Company may use its own good faith calculation of the statutory impairment for purposes of preparing its Statutory Financial Statements.

• The Parties shall use reasonable efforts and work together in good faith to resolve any such dispute prior to the date on which the Ceding Company is required to file the relevant Statutory Financial Statement with the relevant insurance regulator.

• Each such Statutory Financial Statement was in compliance in all material respects with applicable law when filed.

• Bond carrying values and rating agency ratings will be obtained from the Company’s investment system and associated records and reconciled against the book values in the Statutory Financial Statement or the Actual Closing Statutory Financial Statements used for preparation of RBC.

• Common Stock: The Common Stock values will be obtained by using the Page 2 value of the Common Stock in the Company’s Statutory Financial Statement or the Actual Closing Statutory Financial Statements and subtracting Investment in Subsidiaries used in preparation of said statement from the Subsidiaries Carrying Value workpaper.

• Benefit liabilities: Full break down of liabilities for the C2 and C3 calculation referencing certain Notes to Statutory Financial Statement or the Actual Closing Statutory Financial Statements is not available on the quarterly basis.

• No material deficiency has been asserted with respect to any Statutory Financial Statement by any Governmental Entity that remains unresolved prior to the date hereof.

More Definitions of Statutory financial statement

Statutory financial statement means a quarterly, annual, or other financial statement required by law.