PVFP definition

PVFP means the actuarial determined value of the right to receive future cash flows from insurance contracts in force on September 10, 2003, the day the Company’s reorganization became effective.
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PVFP means the present value of future profits of the Non-Profit Business as at the Effective Date;
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Examples of PVFP in a sentence

  • The interest rates used to determine the amount of imputed interest on the unamortized PVFP balance ranged from 5% to 8%.

  • The PVFP is dynamically amortized over the lifetime of the block of business and is subject to premium deficiency testing in accordance with Accounting Standards Codification (“ASC”) Topic 944, Financial Services — Insurance.

  • Unrealized investment gains and losses of equity securities and fixed maturity securities, net of related deferred policy acquisition costs (DAC), present value of future profits (PVFP) and tax effects, are accounted for as a direct increase or decrease to the accumulated other comprehensive income component of shareholders' equity.

  • During the fourth quarter of 1998, special charges totaling $7.8 million were recorded by the TSA/FA segment related to updating certain assumptions (primarily lapse assumptions for fixed annuities) affecting deferred acquisition costs and present value of future profits (PVFP) for interest sensitive products ($5.0 million) and certain costs associated with restructuring activities ($2.8 million).

  • This association is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and PVFP.

  • During the fourth quarter of 1997, special charges totaling $8.1 million were recorded by the WFS segment related to updating certain assumptions (primarily mortality) affecting deferred acquisition costs and PVFP for interest sensitive products ($4.9 million) and restructuring and other non-recurring costs ($3.2 million).

Related to PVFP

  • SBI means State Bank of India (Client) having its Corporate Centre at Madame Cama Road, Nariman Point, Mumbai- 400 021 and its representative Local Head Offices/Administrative Offices/Regional Business Offices/Branches at various places across India and includes the client’s representatives, successors and assigns.

  • MERC means the Maharashtra Electricity Regulatory Commission.

  • NCCPA means the National Commission on Certification of Physician Assistants.

  • Parent means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code.

  • SLDC means the State Load Dispatch Center as notified by the State Government.