Gross Written Premium definition

Gross Written Premium means the gross premiums for the Subject Business written by Company less cancellations and return premiums.

Gross Written Premium means any and all amounts charged to a Policyholder or other Person on or with respect to a Covered Insurance Policy that are required to be reported as premium on the statutory financial statement of the Purchaser or its Insurer Affiliates, as the case may be, in accordance with Applicable Law, exclusive of any surcharges, however described, that are billed on behalf of, and the extent remitted to, any Governmental Authority, less any such amounts returned for cancellation of any such Covered Insurance Policy.

Gross Written Premium. (or “GWP”) means, in relation to any Policy, the total premium payable by an Insured Customer in respect thereof less any Tax/levy and cancellations/refunds;

Examples of Gross Written Premium in a sentence

• For the avoidance of doubt, no Supplemental Sales Commission shall be payable in respect of Gross Written Premium for the calendar year ending 31st December 2003.

• Schedule 7 Supplemental Sales Commission 1 From 1st January, 2004, if in accordance with clause 5.3, the total Gross Written Premium for Existing Direct Business and Existing Reinsured Business exceeds the Incentive Threshold in a calendar year then GECC will receive a supplemental sales commission (the “Supplemental Sales Commission”).

• With respect to the Performance Goals, the applicable rating shall be determined as follows: (i) 21.5% shall be based on the Cumulative Cirrata EBITDA; (ii) 21.5% shall be based on the Cumulative Everspan EBITDA; (iii) 21.5% shall be based on WLACC Outstanding at December 31, 2025; (iv) 17.75% shall be based on the Cumulative Gross Written Premium at Cirrata; and (v) 17.75% shall be based on the Cumulative Gross Written Premium at Everspan.

• For the First Underwriting Year, the Servicing Expenses shall be estimated to be equal to the Applicable Percentage of 10% of the Gross Written Premium.

• For the reinsurance business assumed by PRe from MSRE under the terms and conditions of this Agreement, PRe authorizes MSRE to deduct from the Ceded Net Written Premium a retrocession commission payable to MSRE of [***Confidential Treatment Requested***] of the Gross Written Premium for each Cedent Reinsurance Agreement written or renewed under this Agreement (the “MSRE Retrocession Commission”).

More Definitions of Gross Written Premium

Gross Written Premium means (a) any and all amounts received, less cancellations and returns, in connection with the Personal Lines Business that are required to be reported as direct or assumed premium on the statutory financial statement of National General or its insurance company Affiliates, as the case may be, in accordance with Applicable Law, and (b) as of the Effective Time, unearned premium assumed or written in connection with the Cut-Through Quota Share Agreement or the Pre-Closing MGA Agreement.

Gross Written Premium means the premium registered in the accounts of the company, in accordance with an insurance contract prior to subtracting the commission, expenses of taking in insurance and ceded premiums in reinsurance.

Gross Written Premium means direct Premium plus assumed Premium.

Gross Written Premium means the total premium written before deducting commissions;

Gross Written Premium means gross premium written less cancellations and return premiums. For purposes of clarification and not limitation, the Premium Percentage is net of all commissions and is calculated as provided in Schedule 1 attached hereto. PROFIT COMMISSION: The Reinsurer shall pay the Reinsured, on the day that is one business day prior to the day the Profit Commission (as defined in the Agency Agreement) is payable by the Reinsured to the Agent pursuant to Section 5.1 of the Agency Agreement, an amount equal to such Profit Commission.

Gross Written Premium means (a) any and all amounts received, less cancellations and returns, in connection with the Personal Lines Business that are required to be reported as direct or assumed premium on the statutory financial statement of National General or its insurance company Affiliates, as the case may be, in accordance with Applicable Law, and (b) as of the Effective Time, unearned premium assumed or written in connection with the Cut-Through Quota Share Agreement or the Pre- Closing MGA Agreement.

Gross Written Premium means with respect to the renewal of the Fronted Transferred Reinsurance Contracts by the Purchaser, the gross amount of the premium actually received by the Seller under the Quota Share Reinsurance Agreement, less any return or cancellation premiums.