Insurance Subsidiaries. (a) Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, each Subsidiary of the Company that conducts the business of insurance or reinsurance (each, a “Company Reinsurance Subsidiary”) is (i) duly licensed or authorized as an insurance company or reinsurance company, as applicable, in its jurisdiction of organization and (ii) duly licensed, authorized or otherwise eligible to transact the business of insurance or reinsurance, as applicable, in each other jurisdiction where it is required to be so licensed, authorized or otherwise eligible in order to conduct its business as currently conducted.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Endurance Specialty Holdings LTD), Agreement and Plan of Merger (Endurance Specialty Holdings LTD), Agreement and Plan of Merger (Montpelier Re Holdings LTD)
Insurance Subsidiaries. (a) Except as would not reasonably be expected to have, individually or in the aggregate, have a Material Adverse Effect, each Subsidiary of the Company that conducts the business of insurance or reinsurance (each, a “Company Reinsurance Insurance Subsidiary”) is (i) duly licensed or authorized as an insurance company or reinsurance company, as applicable, in its jurisdiction of incorporation or organization and (ii) duly licensed, authorized or otherwise eligible to transact the business of insurance or reinsurance, as applicable, in each other jurisdiction where it is required to be so licensed, authorized or otherwise eligible in order to conduct its business as currently conducted.
Appears in 1 contract
Samples: Agreement and Plan of Merger (OneBeacon Insurance Group, Ltd.)
