AGGREGATE RETENTION definition
AGGREGATE RETENTION shall be equal to the sum of:
AGGREGATE RETENTION means Aggregate Ultimate Net Losses equal to $495,000,000 as the sum of the Reinsured's carried loss and ALAE reserves (including in each case IBNR) as of December 31, 1997, plus Aggregate Ultimate Net Losses equal to 75.70% multiplied by Subject Net Earned Premium for the period beginning January 1, 1998 and ending at the Effective Date of the Agreement, less paid losses and ALAE for Subject Business for all Accident Years through the Effective Date. The Aggregate Retention shall be determined in accordance with Statutory Accounting Principles (SAP) and applied on a basis consistent with past Reinsured practices. NUCLEAR INCIDENT EXCLUSION CLAUSE - LIABILITY - REINSURANCE - NO. 1B
AGGREGATE RETENTION shall have the meaning and be determined as set forth in Attachment A.
Examples of AGGREGATE RETENTION in a sentence
UNDER NO CIRCUMSTANCES WILL THE REINSURER'S INDEMNITY OBLIGATION HEREUNDER EXCEED $175,000,000 IN TOTAL IN EXCESS OF THE REINSURED'S AGGREGATE RETENTION.
THE REINSURER SHALL INDEMNIFY THE COMPANY 100% OF AGGREGATE ULTIMATE NET LOSSES IN EXCESS OF THE AGGREGATE RETENTION, HOWEVER, THE MAXIMUM AMOUNT OF AGGREGATE ULTIMATE NET LOSSES THAT MAY BE CEDED UNDER THIS AGREEMENT SHALL NOT EXCEED $50,000,000.
UNDER NO CIRCUMSTANCES WILL THE REINSURER'S INDEMNITY OBLIGATION HEREUNDER EXCEED $50,000,000 IN TOTAL IN EXCESS OF THE COMPANY'S AGGREGATE RETENTION.
More Definitions of AGGREGATE RETENTION
AGGREGATE RETENTION means Aggregate Ultimate Net Losses equal to $182,000,000.