mathematical reserves definition
mathematical reserves means the provision made by an insurer to cover liabilities (excluding liabilities which have fallen due and liabilities arising from the deposit back arrangement in relation to any policy whereby an amount is deposited by re-insurer with the cedant) arising under or in connection with policies or contracts for life insurance business. Mathematical reserves also include specific provision for adverse deviations of the bases, such as mortality and morbidity rates, interest rates, and expense rates, and any explicit provisions made, in the valuation of liabilities, in accordance with the regulations made by the Authority for this purpose;
mathematical reserves means the provision made by an insurer to cover liabilities (excluding liabilities which have fallen due and liabilities arising from deposit back arrangements) arising under or in connection with contracts for long term business;
mathematical reserves means, as of any given date, the mathematical reserves of the Company calculated in accordance with the Valuation and Accounting Principles but excluding any mathematical reserves attributable to the Bonds.