Par Surplus definition

Par Surplus means the amount of dedicated statutory surplus relating solely to the Par Policies, plus the Asset Valuation Reserve (AVR) and Interest Maintenance Reserve (IMR) relating thereto, as determined in accordance with Connecticut SAP.
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Examples of Par Surplus in a sentence

  • For any partial calendar year during which this Agreement is in effect, the amount of the annual transfer from the Par Surplus for such year shall be determined on a pro-rata basis.

  • Within 60 days after the end of each calendar year, the Reinsurer shall receive an annual transfer out of profits on the Par Policies from the Par Surplus equal to: $.50 per $1000.00 of the face amount of post-1967 Par Policies in-force as of December 31st of such calendar year.

  • Within 60 days after the end of each calendar year, the Reinsurer shall receive an annual transfer out of profits on the Par Policies from the Par Surplus equal to: (a) $.50 per $1000.00 of the face amount of post-1967 Par Policies in-force as of December 31st of such calendar year, less (b) the aggregate face amount of such Par Policies reinsured pursuant to a coinsurance agreement other than this Agreement or the coinsurance agreement of even date herewith between ▇▇▇▇ and LLANY.