Covered Life Insurance Subsidiaries definition

Covered Life Insurance Subsidiaries means, as of any year end, Life Insurance Subsidiaries that collectively account for 80% or more of the combined General Account Admitted Assets of the Company’s Life Insurance Subsidiaries as of such year end. The Company’s Covered Life Insurance Subsidiaries as of a year end will be identified by first ranking the Life Insurance Subsidiaries from largest to smallest based upon the amount of each Life Insurance Subsidiary’s General Account Admitted Assets and then, beginning with the Life Insurance Subsidiary that has the largest amount of General Account Admitted Assets as of such year end, identifying such Life Insurance Subsidiaries as Covered Life Insurance Subsidiaries until the ratio of the combined General Account Admitted Assets of the Life Insurance Subsidiaries so identified to the combined General Account Admitted Assets of all of the Life Insurance Subsidiaries as of such year end equals or exceeds 80%.
Sample 1Sample 2Sample 3
Covered Life Insurance Subsidiaries. Most Recent Weighted Average NAIC RBC Ratio" means, as of any date, an amount (expressed as a percentage) calculated as:
Sample 1
Covered Life Insurance Subsidiaries means, as of any year end, Life Insurance Subsidiaries that account for 80% or more of the combined general account admitted assets of the Company's Life Insurance Subsidiaries as of such year end. The Company's Covered Life Insurance Subsidiaries as of a year end will be identified by first ranking the Life Insurance Subsidiaries of the Company from largest to smallest based upon the amount of each such Life Insurance Subsidiary's general account admitted assets and then, beginning with the Life Insurance Subsidiary that has the largest amount of general account admitted assets as of such year end, identifying such Life Insurance Subsidiaries as Covered Life Insurance Subsidiaries until the ratio of the combined general account admitted assets of the Life Insurance Subsidiaries so identified to the combined general account admitted assets of all of the Life Insurance Subsidiaries as of such year end equals or exceeds 80%.
Sample 1

Related to Covered Life Insurance Subsidiaries

  • Insurance Subsidiaries means, collectively, MGMM Insurance Company, a Nevada corporation and any Subsidiaries formed for the purpose of facilitating and providing insurance coverage and claims services for the Company and its Subsidiaries.

  • Insurance Subsidiary means any Subsidiary that is licensed by any Applicable Insurance Regulatory Authority to conduct, and conducts, an Insurance Business.

  • Captive Insurance Subsidiary means any Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Subsidiary thereof).

  • Material Insurance Subsidiary means a Material Subsidiary that is also an Insurance Subsidiary.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Consolidated Companies means, collectively, Borrower and all of its Subsidiaries.

  • Insurance group means the persons that comprise an insurance holding company system.

  • Project Finance Subsidiary means any Subsidiary of the Borrower as to which the creditors and other holders of Indebtedness of such Subsidiary have recourse solely against the assets of such Subsidiary and not against the Borrower or any other Subsidiary of the Borrower or any of their other assets (whether directly, through a Guarantee or otherwise) other than (i) pursuant to a Guarantee permitted hereunder and (ii) the stock of such Subsidiary (or similar equity interest).

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Consolidated Restricted Subsidiaries means any Restricted Subsidiaries that are Consolidated Subsidiaries.

  • Consolidated Group means the Borrower and all Subsidiaries which are consolidated with it for financial reporting purposes under GAAP.

  • Consolidated Entities means any Person (other than an Investment Entity) in which the Borrower owns any Capital Stock, the accounts of which Person are consolidated with those of the Borrower in accordance with GAAP.

  • Consolidated Parties means a collective reference to the Borrower and its Subsidiaries, and "Consolidated Party" means any one of them.

  • Sponsored captive insurance company means a captive insurance company:

  • Inactive Subsidiaries means those Subsidiaries of the Borrower listed on Schedule 1.01.

  • Finance Subsidiary means, with respect to any Person, any Subsidiary of such Person which is primarily engaged in leasing or financing activities including (a) lease and purchase financing provided by such Subsidiary to dealers and consumers, (b) leasing or financing of installment receivables or otherwise providing banking, financial or insurance services to the Company and/or its affiliates or others or (c) financing the Company’s and/or its affiliates’ operations.

  • Consolidated Subsidiaries means each Subsidiary of the Borrower (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Borrower in accordance with GAAP.

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • Subsidiaries means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly, any equity or other ownership interest.

  • Consolidated Businesses means the General Partner, the Borrower and their wholly-owned Subsidiaries.