General Account Assets. With respect to any Novated Contracts, as of the applicable Effective Time of such Novated Contracts, the Novated Contracts shall cease to be Reinsured Contracts under the Indemnity Reinsurance Agreement. On the date during which the applicable Effective Time for such Novated Contracts occurs, the Ceding Company shall transfer to the Assuming Company assets with a Statutory Book Value equal to the Funds Withheld Account Balance or NI Modco Accounts Balance, as applicable, with respect to such Novated Contracts. In addition, the Ceding Company shall transfer to the Assuming Company all of its right, title and interest in and to the Policy Loan Balances with respect to such Novated Contracts as of the Effective Time through accounting transfers and other assets, if any, held by the Ceding Company that are attributable to the Novated Contracts.
General Account Assets. General Account Assets means the sum of the amount of the Guaranteed Interest Account and all other amounts held under the Agreement in MassMutual’s general investment account. [
General Account Assets. For the assets underlying the General Account portion of the Modified Coinsurance Reserves, the Investment Income shall be calculated according to the following formula: General Account Investment Income = (A + B) / 2 multiplied by I Where,
General Account Assets. For the assets underlying the General Account portion of the modified coinsurance reserves, the investment income shall be calculated according to the following formula: (A + B) / 2 multiplied by I WHERE: A equals the portion of the modified coinsurance reserves under the General Account policyholder option as of the beginning of such then current accounting period; and B equals the same modified coinsurance reserve as of the end of such accounting period, and I equals 25% of the prior calendar year’s annual investment yield rate. The settlement will be trued up in the first quarter of each year.
General Account Assets. Total claims-paying resources are estimated at approximately $6.0 billion as of March 31, 2017, compared to estimated claims-paying resources of $6.0 billion as of December 31, 2016. The primary components of estimated claims-paying resources as of March 31, 2017 are (i) $5.1 billion of investment portfolio assets at statutory carrying value, (ii) $0.6 billion associated with AAC’s investments in, and transactions with, subsidiaries, and (iii) $0.2 billion associated with the net present value of future installment premiums and (iv) $0.1 billion associated with certain miscellaneous financial assets. The foregoing estimate of claims-paying resources includes certain assumptions and judgments made by the Rehabilitator regarding future events that are described more fully below.
General Account Assets. For the assets underlying the general account portion of the Modco reserves, the investment income shall be calculated according to the following formula: (A + B) divided by 2 times I, where A = the portion of the Modco reserve under the fixed account rider as of the beginning of such then current accounting period; and B = the same Modco reserve as of the end of such accounting period; and I = the interest crediting rate of the MPVUL policies for the previous quarter.
