Net Ceded Premium definition

Net Ceded Premium as used herein shall mean Gross Allocated Premium to this Contract less 25%. 7 G. "Gross Allocated Premium" as used herein shall mean the written premium by the Company allocated to this Contract in annual policies or instalments on multi-year policies.
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Net Ceded Premium means Gross Ceded Premium minus the ceding commission displayed in Article X (B), the premium for stop loss protection displayed in Article X (D), and the allowance for Federal Excise Tax displayed in Article XVII.
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Net Ceded Premium as used herein shall mean Gross Allocated Premium to this Contract less 25%.
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Examples of Net Ceded Premium in a sentence

  • In consideration the Reinsurers hereon will release to renewing markets Premium equivalent to 65% of the total Net Ceded Premium (Gross Ceded Premium less applicable ceding commission) derived from such Modified Claims Made Policies attaching during the term of this Agreement.

  • After the Effective Date, reinsurance premium shall be payable to the Reinsurer equal to the actually collected Net Ceded Premium on Assumed Reinsurance Agreements first in effect after the Effective Date.

  • The Ceding Company shall calculate the adjustments to the Initial Reinsurance Premium and all other Net Ceded Premium at the end of each calendar quarter and report such amounts to the Reinsurer pursuant to Section 7.01.

  • In consideration Reinsurers hereon will release to renewing markets Premium equivalent to 65% of the total Net Ceded Premium (Gross Ceded Premium less applicable ceding commission) derived from such Modified Claims Made Policies attaching during the term of this Agreement.

  • The allowance of the Ceding Commission shall be taken into account in calculating the Net Ceded Premium payable to the Reinsurer pursuant to Section 3.01.

  • The Ceding Company shall adjust the Initial Reinsurance Premium on a quarterly basis based on actual data and future development of such Adjusted UEPR, including the collection after the Effective Date of Net Ceded Premium on such Business Reinsured in effect on the Effective Date.

  • In addition to Reserve funding described in Article VIII, the Reinsurer shall also fund, in the same manner provided for in Article VIII (A), the difference between (1) the maximum sum recoverable by the Company - that is, one hundred eighty-one and sixteen one hundredths per cent (181.16%) of Net Ceded Premium - and (2) the Reserve funding discussed in Article VIII.

  • The Collateral Account shall be credited with Net Ceded Premium for the First Policy Year, Net Ceded Premium to be paid during the Current Policy Year, and all investment income attributed to SP110.

  • Article VI (C) notwithstanding, the Reinsurer's maximum liability under this Agreement shall not exceed one hundred eighty-one and sixteen one-hundredths percent (181.16%) of Net Ceded Premium.


More Definitions of Net Ceded Premium

Net Ceded Premium. “Net Ceded Premium” shall be defined as 90% of the following amounts:
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Related to Net Ceded Premium

  • Net earned premium as used herein is defined as the Company's gross earned premium collected on the classes of business subject to this Contract, less only the earned portion of premiums, if any, ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends incurred.

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of:

  • Annualised Premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any as specified in the Schedule.

  • Single Premium means the amount payable by the Policyholder at the Policy Commencement Date, as per the amount specified in the Schedule.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.