Reinsurer definition
Examples of Reinsurer in a sentence
Upon the occurrence of a Reinsurer Termination Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement by providing written notice of its intent to terminate to the Ceding Company.
Neither the Ceding Company nor the Reinsurer shall be required to take any action under this Agreement that would result in it being in violation of any OFAC Laws, including making any payments in violation of OFAC Laws.
The balance only, if any, shall be payable by the Ceding Company to the Reinsurer at the expiry of all liability under this Agreement.
The Ceding Company and the Reinsurer hereby elect pursuant to Section 1.848-2(g)(8) of the Treasury Regulations to determine specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1) of the Code (the “Election”).
Each of the Ceding Company and the Reinsurer agrees that (i) the Election shall be effective for the taxable year of each Party that includes the date of the Agreement and for all subsequent taxable years during which this Agreement remains in effect and (ii) it shall take no action to revoke the Election.