Transfer and novation definition

Transfer and novation means the transfer of insurance
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Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to effect a novation of the transferred policies with the result that the assuming insurer becomes directly liable to the policyholders of the transferring insurer on the transferred policies and the transferring insurer's insurance obligations or risks, or both, under the transferred policies are extinguished.
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Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to
Sample 1

Examples of Transfer and novation in a sentence

  • The SRALHK branch is the entity into which the long term and general reinsurance business of the SRZHK branch will be transferred in accordance with the proposed Scheme , the Section 25D Transfer and novation of the general reinsurance business.Following the restructuring, the SRALHK branch will be wholly owned by SRAL, which is in turn fully owned by SR Asia Holding, with Swiss Re Ltd being the ultimate parent with full control of SR Asia Holding.


More Definitions of Transfer and novation

Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to effect a novation of the transferred policies with the result that the assuming
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Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from
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Related to Transfer and novation

  • Transfer Agreement means the agreement providing for a transfer of structured settlement payment rights.

  • Transfer Agreements As defined in the Mortgage Loan Sale Agreement. Transferor: Each seller of Mortgage Loans to the Seller pursuant to the Transfer Agreements.

  • Share Transfer Agreement means the share transfer agreement, in the agreed form, between the partners in the Company;

  • Use Agreement means a written agreement between a primary licensee and a Type S applicant or licensee that specifies the designated area of the Type S licensee, the days and hours in which the Type S licensee is assigned to use the common-use area, any allocation of responsibility for compliance pursuant to Section 40196, and an acknowledgement that the Type S licensee has sole and exclusive use of the common- use area during the Type S licensee’s assigned time period.

  • Transfer Any direct or indirect transfer or sale of any Ownership Interest in a Residual Certificate.

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Asset Transfer means a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company.

  • Foundation Agreement means the agreement dated the 20th February 1985 made between the Trustee, the Manager, Xxxxxxxx, Genting WA and Tileska providing for the subscription of Units and Options;

  • Paying and Transfer Agent means the paying and transfer agent for the Notes appointed by us from time to time. The Paying and Transfer Agent will initially be RBC Dominion Securities Inc. whose address is P.O. Box 50, Royal Bank Plaza, 6th Floor, South Tower, Toronto, Ontario, Canada M5J 2W7; Attention: National Operations.

  • Implementation Agreement means the Implementation Agreement dated ……… by and between the GOB, PGCB and the Company in connection with the Project, and also includes any amendment of it made from time to time;