Credit for Reinsurance definition

Credit for Reinsurance means that Cedent is able to take full statutory financial statement credit for the reinsurance provided by the Reinsurance Agreement in its statutory financial statements filed in Cedent’s Domicile and any other jurisdiction in which Cedent is required by Applicable Law to file statutory financial statements, other than New York.
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Credit for Reinsurance means taking credit for reserves on risks ceded to a reinsurer by a captive on the captive's financial statements.
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Credit for Reinsurance shall have the meaning set forth in Section 4(a) of Article VIII.
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Examples of Credit for Reinsurance in a sentence

  • For the purpose of this Contract, the Lloyd's U.S. Credit for Reinsurance Trust Fund shall be considered an acceptable funding instrument.

  • Such terms shall include, but shall not be limited to, provisions regarding Credit for Reinsurance, Service of Suit and Federal Excise Tax, as applicable.

  • For purposes of this Contract, the Lloyd’s United States Credit for Reinsurance Trust Fund shall be considered an acceptable funding instrument.

  • The Reinsurance Trust Agreement shall contain those provisions necessary to effect the terms and conditions of this Reinsurance Agreement and shall comply with the requirements of the State of Indiana, including Rule 56 (Credit for Reinsurance) of Title 760 of the Indiana Administrative Code.

  • For the purpose of this Contract, the Lloyd’s U.S. Credit for Reinsurance Trust Fund shall be considered an acceptable funding instrument.

  • In addition, during the continuation of a Reserve Credit Triggering Event, each monthly asset listing shall indicate for each asset in the Trust Account whether or not such asset is a Credit for Reinsurance Asset.

  • Credit for Reinsurance/ Loss of License or Accreditation The parties intend that the Company be able to recognize the reinsurance ceded under this Agreement in its statutory financial statements filed by the Company in its state of domicile.

  • Table of Contents ARTICLE XII (cont’d) Credit for Reinsurance / Loss of License or Accreditation The parties intend that the Company be able to recognize the reinsurance ceded under this Agreement in its statutory financial statements filed by the Company in all jurisdictions where the Company is licensed or otherwise authorized to do business based upon the licensing and accreditation status of the Reinsurer on the effective date of this Agreement.

  • The Reinsurer has full power and authority in accordance with the designation of the Reinsurer as attorney-in-fact for the Company pursuant to Article VII hereof for purposes of administering the Treaties, to act for and on behalf of the Company with respect to any and all Credit for Reinsurance Facilities outstanding with respect to the Treaties or any Retrocession Agreements.

  • Credit for Reinsurance / Loss of License or Accreditation The parties intend that the Company be able to recognize the reinsurance ceded under this Agreement in its statutory financial statements filed by the Company in all jurisdictions where the Company is licensed or otherwise authorized to do business based upon the licensing and accreditation status of the Reinsurer on the effective date of this Agreement.