Underwriting Income definition

Underwriting Income means the cumulative sum of the insurance underwriting margins of the life, health and annuity segments, plus other income, less insurance administrative expenses (excluding the investment segment, parent company expense and income taxes) for each fiscal year during the Performance Period.
Sample 1Sample 2Sample 3
Underwriting Income and “Net Earned Premium” shall be based on the amounts reported in the Company’s Annual Reports on Form 10-K for each respective year during the Performance Period.
Sample 1Sample 2Sample 3
Underwriting Income means the premiums earned on insurance contracts during the taxable year less losses incurred and expenses incurred. See 26 U.S.C. § 832(b)(3).
Sample 1Sample 2

Examples of Underwriting Income in a sentence

  • Net Earned Premium Less Expenses Included in Combined Ratio (Underwriting Income).

  • Underwriting Income (Loss) We calculate underwriting income (loss) on a pre-tax basis as net premiums earned less losses and loss adjustment expenses, acquisition costs and other underwriting expenses (net of third party fee income).

  • Statement of IncomeThe Company’s capital and surplus has increased $1,823,974 since its incept ion of August 24,2006 detailed as follows: STATEMENT OF INCOME Underwriting Income Net premiums earned $3,111,422Interest income $17,865 Total revenues$3,129,287Deductions: General and administrative $ 688,622Premium tax expenses $36,047 Total operating deductions724,669Income before federal income tax expenses$2,404,618Federal Income tax expense $ 830,644 Net Income$1,573,974C.

  • The Company’s net income for the period covered by this examination was $1,421,995 as detailed below:STATEMENT OF INCOME Underwriting Income Net premiums earned $3,336,985Deductions: General and administrative expenses822,624 Policy acquisition expenses326,675 Total underwriting deductions 1,149,299Net income before tax $2,187,686 Federal income taxes 765,691Net income $1,421,995C.

  • Net Underwriting Income (Loss) Reserve increases from our life annuity policies negatively impacted underwriting income in Q1 2020, although they are substantially offset by investment income.

  • For calendar year 2007 and any subsequent calendar quarter that this Agreement is in effect, the Ceding Company shall return to the Reinsurer the amount, if any, by which (i) the total Profit Commission previously paid to the Ceding Company and not returned to the Reinsurer pursuant to Section 5.02 hereof exceeds (ii) the total Profit Commission that would be payable based on Cumulative Adjusted Net Underwriting Income for such period.

  • Net Underwriting Income 2017 net underwriting income was in line with 2016.

  • Underwriting Income (“Gain from Operation”):Although what plaintiff characterizes as “Phase II” is commonly referred to as underwriting income, the Code used the term “gain from operations” (GFO).Sec.

  • The Outside Accountant’s determination of the Unresolved Items shall be set forth in a written statement delivered to each of the Buyer and the Seller and shall be deemed final and mutually agreed upon by the Buyer and the Seller for purposes of this Agreement; provided, however, that in no case shall the resolution reached by the Outside Accountant be any less favorable to the Seller than reflected on the Buyer’s original Pre-Tax Underwriting Income Statement.

  • Underwriting Income Net premiums earned $176,628,091Underwriting Expense Net losses incurred$4,998,786 Net loss adjustment expense672,193 General and administrative774,424 Other underwriting expense683,294 Total underwriting expense 7,128,697Underwriting profit(loss) $169,499,394Investment income (net) 89,546,991Other income 103,834,169Income before dividends and taxes $362,880,554Taxes 127,008,193Net income $235,872,361C.


More Definitions of Underwriting Income

Underwriting Income is defined as the total premiums subtracting the total claims.
Sample 1
Underwriting Income means the remainder obtained by subtracting the sum of all losses developed to an ultimate basis, all loss adjustment expenses developed to an ultimate basis, and
Sample 1
Underwriting Income means the cumulative sum of the insurance underwriting margins of the life, health and annuity segments, plus other income, less insurance administrative expenses (excluding the investment segment, parent company expense and income taxes) for each fiscal year during the Performance Period (rounded to the nearest one hundred thousand dollar amount). Insurance underwriting margins shall exclude for this purpose all life claims incurred as a result of COVID-19.
Sample 1
Underwriting Income means the remainder obtained by subtracting the sum of
Sample 1

Related to Underwriting Income

  • Underwritten Net Cash Flow means, as of any date of determination, the excess of: (i) for the twelve (12) month period ending on such date, the sum of (A) the lesser of (1) GPR multiplied by 94.0%, and (2) Actual Rent Collections, and (B) Other Receipts; over (ii) for the twelve (12) month period ending on such date, the sum of (A) Operating Expenses, adjusted to reflect exclusion of amounts representing non-recurring expenses, (B) Underwritten Capital Expenditures and (C)

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Underwriting Fee has the meaning given to it in the eighth paragraph of this Agreement;

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Consolidated Operating Income means, for any period, the operating income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP.

  • net earnings means such earnings as are calculated in accordance with paragraph 42 or 52, as the case may be;

  • Qualifying Income Gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code.

  • net non-operating income means the difference between: (A) revenues from all sources other than those related to operations; and (B) expenses, including taxes and payments in lieu of taxes, incurred in the generation of revenues in (A) above.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated Amortization Expense means, for any period, the amortization expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Preliminary Closing Balance Sheet has the meaning set forth in Section 2.2(b) below.

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • ERISA-Qualifying Underwriting A best efforts or firm commitment underwriting or private placement that meets the requirements of an Underwriter’s Exemption.

  • Adjusted Net Operating Income means, with respect to a Property for any given period, Net Operating Income of such Property for such period minus Capital Reserves for such period.

  • EBIT means, for any period, the net income of the Company and its Subsidiaries on a Consolidated basis for such period plus each of the following with respect to the Company and its Subsidiaries on a Consolidated basis to the extent utilized in determining such net income: (a) Interest Expense and (b) provision for taxes.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Pro Forma Balance Sheet as defined in Section 4.1(a).

  • Closing Date Balance Sheet has the meaning specified in Section 2.7.

  • Underwriting (the "Directed Share Program"). The Shares to be sold by Xxxxxx Xxxxxxx pursuant to the Directed Share Program (the "Directed Shares") will be sold by Xxxxxx Xxxxxxx pursuant to this Agreement at the public offering price. Any Directed Shares not orally confirmed for purchase by any Participants by the end of the first business day after the date on which this Agreement is executed will be offered to the public by Xxxxxx Xxxxxxx as set forth in the Prospectus.

  • Quarterly Excess Spread Percentage means, for each Determination Date, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Underwriting Standards As to each Mortgage Loan, the Seller's underwriting guidelines in effect as of the date of origination of such Mortgage Loan.

  • Underwritten Shelf Take-Down has the meaning set forth in Section 2.4(b).

  • Depreciation and Amortization means the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • Final Closing Balance Sheet shall have the meaning set forth in Section 2.3(e).