Convention Statements definition

Convention Statements means (i) the annual convention statements and the quarterly statement of each Insurance Subsidiary as filed with the insurance regulatory authorities in its jurisdiction of domicile for the years ended December 31, 1992, 1993 and 1994 and for the quarterly period ended September 30, 1995, and (ii) the annual convention statements of Ridge Re as filed with the insurance regulatory authorities in Bermuda for the period from December 14, 1992 to December 31, 1993 and for the year ended December 31, 1994.

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Convention Statements means the audited annual convention statements of First Re for the years ended December 31, 1994 through 1996 and the quarterly convention statements of First Re for the quarterly periods ended March 31, 1997, June 30, 1997 and September 30, 1997, each as filed with the Department of Insurance of the State of Connecticut.

Convention Statements means (i) the annual convention statements and the quarterly statement of each Insurance Subsidiary as filed with the insurance regulatory authorities in its jurisdiction of domicile for the years ended December 31, 1992, 1993 and 1994 and for the quarterly period ended September 30, 1995, and (ii) the annual convention statements of Ridge Re as filed with the insurance regulatory authorities in Bermuda for the period from December 14, 1992 to December 31, 1993 and for the year ended December 31,

Examples of Convention Statements in a sentence

• Each of the Convention Statements was correct in all material respects when filed and there were no material omissions therefrom.

• The statutory balance sheets and income statements included in the Convention Statements for the years ended December 31, 1993 and 1994 have been audited by KPMG Peat Marwick LLP.

• To the Knowledge of Seller, no deficiency has been asserted in writing by any Governmental Authority with respect to any of the Convention Statements.

• Such statutory statements shall have been prepared on a basis consistent with the Convention Statements, and, with respect to the financial statements included therein, in accordance with SAP.

• Seller has previously furnished to Buyer accurate and complete copies of the Convention Statements.

• The Convention Statements present fairly the admitted assets, liabilities and surplus of First Re at the end of each of the periods then ended, and the results of its operations and changes in its surplus for each of the periods then ended, in conformity with SAP.

• As of the date of this Agreement, except as set forth on the Disclosure Schedule and except as and to the extent reserved against in the Convention Statements or disclosed in the notes thereto, First Re has not received any guarantee fund assessments.

• The NAIC Annual Convention Statements of the Company Insurance Subsidiaries contain a complete description of all securities of the Company Insurance Subsidiaries on deposit with each state insurance department as of December 31, 2000.

• Any other information which the Reinsurer may require for its Annual Convention Statements which may be reasonably available to the Company.

• No Governmental Authority has granted the Company a “permitted accounting practice” in connection with its annual or quarterly statutory statements, as applicable, that departs from the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual that was in effect as of the time of submission of the Convention Statements.