Permitted Practices. During the term of this Agreement, the Reinsurer shall not depart, and shall not request from the Insurance Regulator with jurisdiction over the Reinsurer permission to depart, from NAIC statutory accounting practices and procedures pertaining to the admissibility or valuation of assets or liabilities that increase the Reinsurer’s reported surplus and are material enough that they need to be disclosed in the financial statement of the Reinsurer pursuant to Statement of Statutory Accounting Principles No. 1, unless (i) the Reinsurer has obtained the advance written consent of the Ceding Company, or (ii) the Reinsurer ensures that the Ceding Company is fully compliant under AG 48.
Appears in 3 contracts
Sources: Reinsurance Agreement (VARIABLE ANNUITY ACCOUNT B OF VOYA RETIREMENT INSURANCE & ANNUITY Co), Reinsurance Agreement (Select Life Variable Account), Reinsurance Agreement (Select Life Variable Account)