Quota Share Percentage definition
Examples of Quota Share Percentage in a sentence
The result is further multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B.
The term “Tax Reserve,” as used in this Agreement, shall mean the Quota Share Percentage of the reserve calculated according to the methods and valuation assumptions described in Section 807 of the Internal Revenue Code of 1986 with respect to the Annuities.
Where under an Annuity the Ceding Company is required by applicable state law to pay additional interest from the date of death or the date of proof of death (“Additional Death Benefit Interest Payments”), the Reinsurer shall pay to the Ceding Company the Quota Share Percentage of any such Additional Death Benefit Interest Payments.
The term “Benefit Payments,” as used in this Agreement, shall mean the sum of (i) Claims (as defined in ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇), (▇▇) Cash Surrender Values (as defined in ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇), (▇▇▇) Annuity Payments (as defined in ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇), (▇▇) Additional Death Benefit Interest Payments (as defined in Paragraph 5 below), and (v) the Quota Share Percentage of the net of the transfers to the Ceding Company’s related separate accounts less the transfers from such separate accounts.
The Reinsurer agrees to indemnify the Ceding Company for, and the Ceding Company agrees to reinsure with the Reinsurer, according to the terms and conditions hereof, the Quota Share Percentage of the Annuities, as defined in Schedule A attached hereto.
The Ceding Company will pay the Reinsurer the Quota Share Percentage of all amounts received by the Ceding Company in connection with the reinstatement of such Annuity plus any amounts previously refunded to the Ceding Company by the Reinsurer in connection with the lapse of such Annuity.
In the event that an Annuity annuitizes, the Reinsurer shall pay to the Ceding Company the Quota Share Percentage of each resulting Annuity Payment.
If the Ceding Company’s liability under any of the Annuities is changed because of a misstatement of age, sex or any other material fact, the Reinsurer will (a) assume the Quota Share Percentage of any increase in the Ceding Company’s liability resulting from the change and (b) receive credit for the Quota Share Percentage of any decrease in the Ceding Company’s liability resulting from the change.
At the end of each Accounting Period, the Ceding Company shall pay to the Reinsurer the Quota Share Percentage of the commission chargebacks collected during each Accounting Period with respect to the Annuities.
The Ceding Company will provide the Reinsurer with a quarterly statement showing the Reinsurer’s Quota Share Percentage of the statutory liabilities associated with the Annuities.