RBC Ratio means the risk-based capital ratio of the Insurer, which will be calculated in a manner consistent with the requirements and methodologies prescribed under Massachusetts Law, as applied by the Insurer in the ordinary course of its business, consistent with its historic practice.
RBC Ratio means the percentage equal to (a) the quotient of the Reinsurer’s total adjusted capital as calculated in accordance with the Applicable Law of the Reinsurer’s jurisdiction of domicile, divided by the Reinsurer’s company action level risk-based capital as calculated in accordance with the Applicable Law of the Reinsurer’s jurisdiction of domicile, multiplied by (b) 100; provided, however, that in the event that any material changes to the calculation of the RBC Ratio (including the component inputs thereof) are promulgated by the National Association of Insurance Commissioners and adopted by the Reinsurer’s jurisdiction of domicile on or after the date hereof, or in the event of any changes in Applicable Law after the date hereof materially affecting the calculation of the Reinsurer’s RBC Ratio, the parties shall work in good faith to adjust the RBC Ratio set forth herein in a mutually agreeable manner to mitigate the impact of such changes and if the parties cannot agree to any such adjustment, the Reinsurer shall continue to calculate its RBC Ratio as if such material change had not occurred; provided, further, that any calculation of the RBC Ratio as of a date other than the last day of a calendar year shall be based on the Reinsurer’s good faith estimate using, to the extent any factors are not reasonably available, amounts based on reasonable estimation and annualization.
RBC Ratio of any Person means, at any time, the ratio of (i) “Total Adjusted Capital” of such Person to (ii) the amount equal to (x) “Authorized Control Level Risk-Based Capital” of such Person multiplied by (y) 2, as such terms are defined by the Insurance Regulatory Authority of the State in which such Person is incorporated, as amended from time to time. Using the annual SAP Financial Statements form prescribed by the NAIC Risk-Based Capital (RBC) for Insurers Model Act for the year ended December 31, 2012 (the “Convention Blank”), the RBC Ratio as of December 31, 2012 is equal to the quotient of (a) the amount that appears on line 28 on page 17 of the Convention Blank divided by (b) the amount equal to (x) the amount that appears on line 29 on page 17 of the Convention Blank multiplied by (y) 2.
Examples of RBC Ratio in a sentence
As of December 31, 2021, the RBC Ratio of the Ceding Company was in excess of 400%.
In addition, the Company, upon written notice to the Administrator, may reduce the Administrator’s written capacity authority if it is deemed necessary, in the Company’s sole reasonable discretion, in order to maintain an adequate Authorized Control Level Risk-Based Capital Ratio (“ACL RBC Ratio”), which, for the purpose of this Agreement, is defined as an ACL RBC Ratio of at least 400%.
As of December 31, 2021, the RBC Ratio of the Assuming Company was in excess of the RBC Requirement.
More Definitions of RBC Ratio
RBC Ratio means, with respect to any U.S. domiciled insurance or reinsurance company, the percentage equal to (a) the quotient of the Total Adjusted Capital of such insurance or reinsurance company, divided by the Company Action Level RBC, multiplied by
RBC Ratio means, as of any given date, the ratio of (i) Total Adjusted Capital (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date) to (ii) Company Action Level RBC (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date).
RBC Ratio means the risk-based capital ratio of the Insurer, which shall be calculated in a manner consistent with the requirements and methodologies prescribed under New Jersey Law, as applied by the Insurer in the ordinary course of its business, consistent with its historic practice. “[ *** ]” is defined in Section F of the Procedures Manual.
RBC Ratio means the percentage equal to (a) the quotient of the Total Adjusted Capital of the Reinsurer, divided by the Company Action Level RBC, multiplied by (b) 100.
RBC Ratio means, with respect to any U.S. domiciled insurance or reinsurance company, the percentage equal to (a) the quotient of the Total Adjusted Capital of such insurance or reinsurance company divided by the Company Action Level RBC, multiplied by (b) 100; provided, that any calculation of the RBC Ratio (i) as of a calendar month-end other than the last day of a calendar year or (ii) as of the last day of a calendar year where such calculation is required to be provided within twenty (20) calendar days pursuant to the definition of “Capital Reporting Deadline,” shall be based on such insurance company’s good faith estimate using, to the extent any factors are not reasonably available, amounts based on reasonable estimation and annualization.
RBC Ratio means the ratio, as of the date of determination, of the Reinsurer’s “total adjusted capital” over its “company action level risk-based capital”, as such terms are defined and prescribed by requirements promulgated by the National Association of Insurance Commissioners and regulations adopted by the insurance regulatory authorities in the Reinsurer’s state of domicile, which are in effect as of such date, calculated as of the end of each calendar quarter, and using reserving methodologies and asset classifications that are in accordance with generally accepted statutory accounting principles and practices required or permitted by the National Association of Insurance Commissioners and the insurance regulatory authority in the Reinsurer’s state of domicile, consistently applied throughout the specified period and in the immediately prior comparable period; provided, that in the event there is a material change in the factors and formulae prescribed by the insurance regulatory authority in the Reinsurer’s state of domicile with respect to the components of and methodologies contained in such calculation, the Parties shall amend this Agreement to incorporate an alternate calculation that is reasonably equivalent to the components of and methodologies contained in the calculation of the Reinsurer’s RBC Ratio in effect as of the Effective Date within thirty (30) calendar days after the implementation of such change, and if the Parties cannot agree on any such alternative, the Reinsurer shall continue to calculate its RBC Ratio as if such material change had not occurred.
RBC Ratio means (i) with respect to a calendar year end, the Percentage of Company Action Level as of such calendar year end and (ii) with respect to a quarter end, the Reinsurer’s publicly disclosed estimate of the Percentage of Company Action Level as of such quarter end or, if such estimate is not publicly disclosed, the Reinsurer’s good faith estimate of the Percentage of Company Action Level as of such quarter end using to the extent any factors are not reasonably available, reasonable hypothetical amounts.