Surplus as regards policyholders definition

Surplus as regards policyholders means an insurer’s net worth, the difference between its assets and liabilities, as reported in its annual statement.

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Surplus as regards policyholders means, with respect to any Insurance Subsidiary at any time, the surplus as regards policyholders of such Insurance Subsidiary, as determined in accordance with SAP as at the last day of the fiscal quarter of the Borrower ending on or most recently ended prior to such date.

Surplus as regards policyholders means, with respect to any Insurance Subsidiary at any time, the "capital stock" of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, Line 26 of the Annual Statement).

Examples of Surplus as regards policyholders in a sentence

The purchase price for the Surplus Notes (the “Purchase Price”) shall be three million seventy-five thousand one hundred forty-one dollars ($3,075,141) (which the parties acknowledge is the dollar amount reflected in Column 1 (Current Statement Date) of Line 35 (Surplus as regards policyholders) of the “Liabilities, Surplus and Other Funds” section of CMIC’s Quarterly Statement to the New York Insurance Department for the quarter ended September 30, 2005).
The minimum Statutory Capital & Surplus (Surplus as regards policyholders) as reported on the Annual Statement of Borrower shall not be less than $1 billion plus fifty (50%) percent of the Borrower’s net income each fiscal year commencing with the fiscal year ending December 31, 2005 less cash dividends paid in such fiscal year.

More Definitions of Surplus as regards policyholders

Surplus as regards policyholders means, with respect to any Insurance --------------------------------- Subsidiary at any time, the "capital stock" of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, page 3, line 25 of the Annual Statement).

Surplus as regards policyholders means surplus as regards policyholders based upon the Closing Balance Sheet as determined in accordance with SAP on the Closing Date after adjustments for termination of the Affiliate Agreements and the Fair Market Value Adjustment.

Surplus as regards policyholders as of the end of each of its fiscal quarters, as reported on line 25, page 3, column 1 of the Annual Report of such Insurance Company Subsidiary in the case of calculations made as of the last day of any fiscal year of such Insurance Company Subsidiary, and as reported on the applicable Quarterly Statement of such Insurance Company Subsidiary in the case of calculations made as of the last day of any first, second or third quarter of such Insurance Company Subsidiary.

Surplus as regards policyholders. The amount that would be reflected on Line 39 of the schedule entitled “Statement of Income” of the 2014 Annual Statement filed by the Company with the NYSDFS, if said amount was to be calculated as of the Closing Date, after giving effect to (i) full reserve credit on the Company’s statutory liabilities for the transactions contemplated by the Reinsurance Agreements, and (ii) the termination of the Affiliate Relationships in conformity with SAP.

Surplus as regards policyholders means the total of capital paid-up, gross paid-in and contributed surplus, special surplus funds, unassigned funds less treasury stock at cost, all as shown on the company's balance sheet.