Underwriting Surplus definition

Underwriting Surplus means the surplus arising from the Tabarru’ Fund after claims payable and a suitable amount is held back for contingency purposes, if any.
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Underwriting Surplus means excess in the Tabarru’ Fund after deduction of claims and reserve purposes, if any.
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Underwriting Surplus means amount that remains after deducting all expenses and management fees for the administration of the takaful fund and the claims made by the participants from the contributions to the fund.
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Examples of Underwriting Surplus in a sentence

  • Investment Profit and/or Underwriting Surplus, if any, will be forwarded to any charitable organisation(s) approved by Our Shariah Committee.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the said Fund, if any, shall be managed by the Company in a manner deemed fit by the Company and accordance to Shariah principles which shall give benefits to the Participant and the said Takaful Funds/Participant’s Risk Funds.

  • Elastomeric: Preformed closed cell flexible elastomeric foam pipe insulation; k=0.28 Btu/hr-sf-F-in, 0.08 perm-inch, 0- 220F service; 25/50 rated up to 1” thickness; joints and seams sealed with manufacturer’s sealant to provide continuous vapor barrier; Armacell “AP Armaflex” or approved equivalent.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the Participants` Special Account/Participant’s Risk Fund in the Family Takaful Fund as shown in the last valuation by the Company, will only be given to the matured certificates.

  • SIGNIFICANT ACCOUNTING POLICIES (continued) (b) Foreign currency (continued) (ii) Operations denominated in functional currencies other than Ringgit Malaysia (“RM”) (continued) When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant portion of the cumulative amount is reattributed to non-controlling interests.

  • In the event of any deficit from the Tabarru’ Fund, there will be no Underwriting Surplus distribution for the respective financial year.

  • The Qard is repayable from the future Underwriting Surplus of the Tabarru’ Fund.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the Participants` Special Account/Participant’s Risk Fund in theFamily Takaful Fund as shown in the last valuation by the Company, will only be given to the matured certificates.

  • Underwriting Surplus, if any, will be forwarded to any charitable organisation(s) approved by Our Shariah Committee.

  • Distribution of Underwriting Surplus The participant also understands that the underwriting surplus arising from the said fund, if any, shall be managed by the Company in a manner deemed fit by the Company and accordance to Shariah principles which shall give benefits to the participant and the Takaful funds/Participant’s Risk Funds.

Related to Underwriting Surplus

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Net Available Cash from an Asset Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of: