Reinsurance Agreement definition

Reinsurance Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Reinsurance Agreement means any agreement, contract, treaty, certificate or other arrangement whereby any Insurance Subsidiary agrees to transfer, cede or retrocede to another insurer or reinsurer all or part of the liability assumed or assets held by such Insurance Subsidiary under a policy or policies of insurance issued by such Insurance Subsidiary or under a reinsurance agreement assumed by such Insurance Subsidiary.

Reinsurance Agreement has the meaning set forth in the recitals.

Examples of Reinsurance Agreement in a sentence

Each Insurance Company is entitled under the applicable Laws of its domiciliary jurisdiction to take full credit in its Insurance Company Financial Statements for all amounts recoverable by it pursuant to such Reinsurance Agreement and all such amounts recoverable have been properly recorded in its books and records of account and are properly reflected in its Insurance Company Financial Statements.
Neither the applicable Insurance Company nor, to the Knowledge of Sellers, any of the other parties is in material default or material breach or has failed to perform any material obligation under any such Reinsurance Agreement, and, to the Knowledge of Sellers, there does not exist any event, condition or omission that would constitute such a material breach or material default (whether by lapse of time or notice or both).
No party to any Reinsurance Agreement has given written notice of termination, modifications that are material or recapture (provisional or otherwise) in respect of any Reinsurance Agreement.
As of the date hereof, there is no pending or, to the Knowledge of Sellers, threatened Litigation with respect to any Reinsurance Agreement.

More Definitions of Reinsurance Agreement

Reinsurance Agreement means any agreement, contract, treaty, certificate or other arrangement whereby any Regulated Insurance Company agrees to transfer, cede or retrocede to another insurer or reinsurer all or part of the liability assumed or assets held by such Regulated Insurance Company under a policy or policies of insurance issued by such Regulated Insurance Company or under a reinsurance agreement assumed by such Regulated Insurance Company.

Reinsurance Agreement means any agreement, contract, treaty or other arrangement providing for Ceded Reinsurance by any Insurance Subsidiary or any Subsidiary of such Insurance Subsidiary in the ordinary course of its business.

Reinsurance Agreement means a contract whereby an assuming reinsurer has accepted risk ceded by an insurer or reinsurer;

Reinsurance Agreement means an inward reinsurance agreement

Reinsurance Agreement means any insurance Policy or other Document under

Reinsurance Agreement shall have the meaning specified in the Preamble.

Reinsurance Agreement has the meaning set forth in Section 3W.