Quota Share definition
Examples of Quota Share in a sentence
In the event that the Ceding Company exercises its recapture rights with respect to any Third Party Reinsurance Agreement, on the effective date of such recapture, the Ceding Company shall deposit into the applicable Modco Sub-Account Permitted Assets with a Statutory Carrying Value, as of the effective date of such recapture, equal to the Quota Share of any recapture payment and other amounts received from the applicable Third Party Reinsurer in connection with such recapture.
By: Name: Title: ▇▇▇▇▇▇ ▇▇▇▇ Chief Financial Officer SCHEDULE I QUOTA SHARE The Quota Share with respect to each Reinsured Policy shall be the “Quota Share” listed in the table below under the “Policy Plan Classification” heading applicable to such Reinsured Policy.
Within five (5) Business Days following the receipt by the Ceding Company of the Recapture Payment (as defined in the Recapture Amendment), the Ceding Company shall pay to the Reinsurer an amount equal to the applicable Quota Share of such Recapture Payment.
Each SA Modco Sub-Account will consist of a Quota Share allocation of the assets maintained by the Ceding Company in the applicable Separate Account and a Quota Share allocation of the fair market value of the ▇▇▇▇▇▇ with respect to the Index-Linked Deferred Annuity Policies.
Each Risk Charge shall be withdrawn by the Ceding Company from the applicable Separate Account on a quarterly basis; provided, that the Quota Share of each Risk Charge may be withdrawn from the applicable Separate Account and transferred to the Reinsurer.