Definition of Insurance Subsidiary

Insurance Subsidiary means any Restricted Subsidiary which is subject to the regulation of, and is required to file statements with, any governmental body, agency or official in any State or territory of the United States or the District of Columbia which regulates insurance companies or the doing of an insurance business therein.

Insurance Subsidiary means any Subsidiary that is a so-called "captive" insurance company, including, without limitation, Family Dollar Insurance, Inc.

Insurance Subsidiary means a Subsidiary of the Borrower that is licensed to do a life insurance business and/or a property and casualty insurance business.

Examples of Insurance Subsidiary in a sentence

No License of any Insurance Subsidiary, the loss of which could reasonably be expected to have a Material Adverse Effect, is the subject of a proceeding for suspension or revocation.
All of the Annual Statements and Interim Statements, together with any other financial or similar statements of the Material Insurance Subsidiaries provided to the Administrative Agent, are prepared in accordance with SAP and present fairly in accordance with SAP the financial position of such Material Insurance Subsidiary for the period then ended.
No Insurance Subsidiary shall change its state of domicile or incorporation without the prior written consent of the Required Lenders.
The business of each Insurance Subsidiary is being conducted in all material respects in accordance with the Reinsurance Guidelines.
Any change is made in the Insurance Code which affects the dividend practices of any Insurance Subsidiary and which is reasonably likely to have a Material Adverse Effect on the ability of the Borrower to perform its obligations under the Agreement and such circumstances shall continue for 120 days.

More definitions of Insurance Subsidiary

Insurance Subsidiary means Watson Wyatt Insurance Consulting, Inc., a Delaware corporation, and Watson Wyatt Insurance Brokerage, Inc., a Massachusetts corporation.

Insurance Subsidiary means Commerce Square Equipment Reinsurance Co. Ltd.