Underwriting Surplus definition

Underwriting Surplus means the surplus arising from the Tabarru’ Fund after claims payable and a suitable amount is held back for contingency purposes, if any.
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Underwriting Surplus means excess in the Tabarru’ Fund after deduction of claims and reserve purposes, if any.
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Underwriting Surplus means amount that remains after deducting all expenses and management fees for the administration of the takaful fund and the claims made by the participants from the contributions to the fund.
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Examples of Underwriting Surplus in a sentence

  • Investment Profit and/or Underwriting Surplus, if any, will be forwarded to any charitable organisation(s) approved by Our Shariah Committee.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the said Fund, if any, shall be managed by the Company in a manner deemed fit by the Company and accordance to Shariah principles which shall give benefits to the Participant and the said Takaful Funds/Participant’s Risk Funds.

  • Elastomeric: Preformed closed cell flexible elastomeric foam pipe insulation; k=0.28 Btu/hr-sf-F-in, 0.08 perm-inch, 0- 220F service; 25/50 rated up to 1” thickness; joints and seams sealed with manufacturer’s sealant to provide continuous vapor barrier; Armacell “AP Armaflex” or approved equivalent.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the Participants` Special Account/Participant’s Risk Fund in the Family Takaful Fund as shown in the last valuation by the Company, will only be given to the matured certificates.

  • SIGNIFICANT ACCOUNTING POLICIES (continued) (b) Foreign currency (continued) (ii) Operations denominated in functional currencies other than Ringgit Malaysia (“RM”) (continued) When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant portion of the cumulative amount is reattributed to non-controlling interests.

  • In the event of any deficit from the Tabarru’ Fund, there will be no Underwriting Surplus distribution for the respective financial year.

  • The Qard is repayable from the future Underwriting Surplus of the Tabarru’ Fund.

  • Distribution of Underwriting Surplus The Participant also understands that the underwriting surplus arising from the Participants` Special Account/Participant’s Risk Fund in theFamily Takaful Fund as shown in the last valuation by the Company, will only be given to the matured certificates.

  • Underwriting Surplus, if any, will be forwarded to any charitable organisation(s) approved by Our Shariah Committee.

  • Distribution of Underwriting Surplus The participant also understands that the underwriting surplus arising from the said fund, if any, shall be managed by the Company in a manner deemed fit by the Company and accordance to Shariah principles which shall give benefits to the participant and the Takaful funds/Participant’s Risk Funds.

Related to Underwriting Surplus

  • Common Surplus means the excess of all receipts of the Association collected on behalf of the Association, including, but not limited to, Assessments, rents, profits and revenues on account of the Common Elements, over the amount of Common Expenses.

  • Reserve Account Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Available Distribution Amount As to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit in the Custodial Account as of the close of business on the immediately preceding Determination Date, including any Subsequent Recoveries, and amounts deposited in the Custodial Account in connection with the substitution of Qualified Substitute Mortgage Loans, (ii) the amount of any Advance made on the immediately preceding Certificate Account Deposit Date, (iii) any amount deposited in the Certificate Account on the related Certificate Account Deposit Date pursuant to the second paragraph of Section 3.12(a), (iv) any amount deposited in the Certificate Account pursuant to Section 4.07, (v) any amount that the Master Servicer is not permitted to withdraw from the Custodial Account or the Certificate Account pursuant to Section 3.16(e), (vi) any amount received by the Trustee pursuant to the Surety Bond in respect of such Distribution Date and (vii) the proceeds of any Pledged Assets received by the Master Servicer, reduced by (b) the sum as of the close of business on the immediately preceding Determination Date of (w) aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution, and (y) amounts permitted to be withdrawn by the Master Servicer from the Custodial Account in respect of the Mortgage Loans pursuant to clauses (ii)-(x), inclusive, of Section 3.10(a). Such amount shall be determined separately for each Loan Group. Additionally, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, if on any Distribution Date Compensating Interest provided pursuant to this Section 3.16(e) is less than Prepayment Interest Shortfalls incurred on the Mortgage Loans in connection with Principal Prepayments in Full and Curtailments made in the prior calendar month, such Compensating Interest shall be allocated on such Distribution Date to the Available Distribution Amount for each Loan Group on a pro rata basis in accordance with the respective amounts of such Prepayment Interest Shortfalls incurred on the Mortgage Loans in such Loan Group in respect of such Distribution Date.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Available Cash means, with respect to any Quarter ending prior to the Liquidation Date: