Reserves and Liabilities definition

Reserves and Liabilities means the statutory reserves held by the Company as of the Effective Date in support of the policy liabilities arising under the Reinsured Policies and payable after the Effective Date (determined by reference to lines 1, 5, 7 and 8 on page 3 of its 1995 Annual Statement Blank) less Policy Loans.
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Reserves and Liabilities means all of the Reserves and other liabilities and associated rights and obligations arising under the Coinsured Policies INCLUDING, but not limited to, liabilities for Benefits, surrenders, returns and premium refunds, but EXCLUDING liabilities for guaranty fund assessments and taxes that arise from or relate to the Existing GBO Policies and are incurred during the period ending with the Effective Time.
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Reserves and Liabilities means all of the Reserves and other liabilities and associated rights and obligations arising under the Coinsured Policies including, but not limited to, liabilities for Benefits, surrenders, returns and premium refunds, but excluding liabilities for guaranty fund assessments and taxes that arise from or relate to the Existing GBO Policies and are incurred during the period ending with the Effective Time.
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Examples of Reserves and Liabilities in a sentence

  • On the Effective Date, the Partnerships and the Trust shall execute a B▇▇▇ of Sale, Assignment, Acceptance and Assumption Agreement conveying the Retained Assets, Cash Reserves and Liabilities to the Trust, a form of which is attached as Exhibit B hereto.

  • On the Effective Date, the Partnership and the Trust shall execute a B▇▇▇ of Sale, Assignment, Acceptance and Assumption Agreement conveying the Retained Assets, Cash Reserves and Liabilities to the Trust, a form of which is attached as Exhibit A hereto.

  • Notwithstanding the provisions of Section 2.1 hereof, the Reinsurer will not be deemed to have accepted and reinsured, on an assumption basis, any Reinsured Policy unless the Reserves and Liabilities underlying such Reinsured Policy shall have been ceded by the Company to the Reinsurer, and accepted by the Reinsurer, pursuant to Article II of the Coinsurance Agreement, effective as of the Effective Date.

  • On the Effective Date, the Company and the Trust shall execute a B▇▇▇ of Sale, Assignment, Acceptance and Assumption Agreement conveying the Retained Assets, Company Cash Reserves and Liabilities to the Trust, a copy of which is attached as Exhibit A hereto.

  • The General Account Statutory Reserves and Liabilities will be the reserves associated with the Fixed Account and will include the reserves for the guaranteed minimum death benefit.

  • The Company, on its own initiative, shall not change (i) the terms and conditions of any Reinsured Policies or (ii) the assumptions, including the statutory reserve accumulation rate assumption, used by the Company to establish the Reserves and Liabilities with respect to such Reinsured Policies.

  • The Reinsurer will increase its General Account Statutory Reserves and Liabilities by an amount equal to the reduction taken by the Reinsured.

  • The Reinsurer shall record all Reserves and Liabilities assumed under the terms of this Coinsurance Agreement on its books and SAP financial statements in accordance with SAP.

  • The Reinsurer shall share proportionately in any change in contract or in Reserves and Liabilities required by any regulatory authority having jurisdiction over the Company in the ordinary course of exercising its powers or otherwise required by law and in any such changes made by the Company and consented to by the Reinsurer.

  • This duty to cooperate shall include, but not be limited to, making all necessary insurance regulatory filings and obtaining all insurance regulatory approvals required, making available any Reinsured Policy records which either party subsequently may require to resolve issues related to claims or Reserves and Liabilities.


More Definitions of Reserves and Liabilities

Reserves and Liabilities has the meaning set forth in the Coinsurance Agreement.
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