Statutory Liabilities definition

Statutory Liabilities means, as to any of the Reliance Standard Insurance Companies as of any date, the amount reported on line 26, page 3, column 1 of the Annual Statement of each of the Reliance Standard Insurance Companies and, as to Safety National as of any date, the amount reported on line 26, page 3, column 1 of the Annual Statement of Safety National, or, in each case, an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Statutory Liabilities means, as to any Insurance Subsidiary, as of any date, the total amount shown on line 21, page 3, column 1 of the 1995 Annual Statements (or any similar line, page and column reference in any subsequent Annual Statement), or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Statutory Liabilities means, with respect to any Insurance Subsidiary as of any date, the amount reported on line 28, page 3, column 1 of the Annual Statement of such Insurance Subsidiary, less IMR/AVR and less amounts under the Surplus Debenture constituting Statutory Liabilities on the Annual Statement, or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Examples of Statutory Liabilities in a sentence

  • The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any Third-Party Reinsurance Agreements) plus premium deposit funds plus unearned premiums plus unearned policy loan interest.

  • The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any non-affiliate reinsurance agreements) related to the recapture Policies plus "Recapture Assets and Liabilities." The Reinsurer shall also pay to the Ceding Company interest on such amount at the rate of four percent (4%) per annum, simple rate, beginning on the Recapture Date and ending on the Recapture Settlement Date.

  • In determining the amount of Damages pursuant to this Section 9, Damages shall include only the amounts in excess of reserves or accruals included in the Target Current Liabilities or the Target Statutory Liabilities with respect to the specific claim from which the Damages result.

  • Except for liabilities and obligations, including, without limitation, reserves, policy and contract claims and Statutory Liabilities (all of which have been computed in accordance with commonly accepted actuarial standards), disclosed or provided for in the Statutory Financial Statements, PICOM and PICOM-Ill.

  • The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any reinsurance agreements with non-Affiliates) related to the Policies plus “Transfer Assets and Liabilities”.

  • The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any non-affiliate reinsurance agreements) related to the recapture Policies plus ”Recapture Assets and Liabilities”.

  • Not permit the ratio of Statutory Liabilities minus IMR/AVR of RSL to Capital and Surplus plus IMR/AVR of RSL to exceed 15.0:1 at any time.

  • E = Net Statutory Liabilities ceded end of quarter as included in Page 3, Line 3 of the NAIC annual statement blank The Expense Allowance is intended to reimburse GELAAC for issuance cost directly related to the Registered Notes Program including SEC fees, rating agency fees and other program fees as well as distribution fees, sales and marketing expenses, underwriting and issue expenses, policy maintenance expenses, and claims administration expenses.

  • Net Statutory Liabilities shall equal the Quota Share Percentage of the statutory liabilities relating to the Reinsured Contracts.

  • In no event shall the Buyer’s liability under this Article 11 (other than with respect to the French Statutory Liabilities) exceed the Purchase Price.


More Definitions of Statutory Liabilities

Statutory Liabilities means, as to any Person, as of any date, with respect to (a) any Life Subsidiary, the amount reported on page 3, line 28, column 1 of its Annual Statement, and (b) any P/C Subsidiary, the amount reported on page 3, line 26, column 1 of its Annual Statement; or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Statutory Liabilities. With respect to any of the Insurance Subsidiaries as of any date, the amount reported on line 28, page 3, column 1 of the Annual Statement of each of the Insurance Subsidiaries, less IMR/AVR of each of the Insurance Subsidiaries constituting Statutory Liabilities on the Annual Statement, or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Statutory Liabilities as to each Insurance Subsidiary of the --------------------- Borrower, as of any date, the total amount shown on line 21, page 3, column 1 of the Annual Statement of such Insurance Subsidiary, or an amount determined in a consistent manner for any date other than one as of which an Annual Statement of such Insurance Subsidiary is available.
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Statutory Liabilities means all severance, termination amounts (including notice or other termination indemnities), pension, retirement or other similar amounts or Liabilities (including accrued vacation, PTO and any employer portion of any Taxes due in respect of any such Liabilities) that (a) are mandated or required by foreign Governmental Authorities by operation of or under applicable Law for the benefit of Business Employees who are principally based outside of the United States and (b) in the absence of the transactions contemplated by this Agreement would continue to accrue and become payable upon such Business Employees’ retirement, death, voluntary resignation or voluntary separation with Seller and its Affiliates, excluding the Retained Severance.
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Statutory Liabilities means the liability of a Person who may be held responsible for a certain act or omission under any related Applicable Law (including, without limitation, the following types of liabilities that a Person may be held responsible for under any related Applicable Law: accrued vacation, severance, taxes and any liabilities for which board members would be personally liable in a liquidation.
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Statutory Liabilities means the liabilities established in conformity with the requirements of these Rules for the Statutory Balance Sheet of a Collateralized Insurer.
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Related to Statutory Liabilities

  • Environmental, Health and Safety Liabilities means any cost, damages, expense, liability, obligation, or other responsibility arising from or under Environmental Law or Occupational Safety and Health Law and consisting of or relating to:

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Liabilities means any and all debts, liabilities and obligations, whether accrued or fixed, absolute or contingent, matured or unmatured or determined or determinable, including those arising under any Law, Action or Governmental Order and those arising under any contract, agreement, arrangement, commitment or undertaking.

  • Intra-Group Liabilities means the Liabilities owed by any member of the Group to any of the Intra-Group Lenders.

  • Excluded Liabilities has the meaning set forth in Section 2.4.