Authorized Control Level definition

Authorized Control Level means “Authorized Control Level Risk-Based Capital” as defined by the NAIC as of December 31, 1994, as such definition has been amended from time to time, and as applied in the context of the Risk-Based Capital Guidelines promulgated by the NAIC.
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Authorized Control Level means “Authorized Control Level” as defined by NAIC from time to time and as applied in the context of the Risk-Based Capital Guidelines promulgated by NAIC (or any term substituted therefor by NAIC).
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Authorized Control Level means "Authorized Control Level" as defined by ------------------------ the NAIC from time to time and as applied in the context of the Risk-Based Capital Guidelines promulgated by the NAIC (or any term substituted therefor by the NAIC). In the event that there is a conflict between the risk-based capital formulas adopted by the NAIC and any applicable department of insurance, the calculation of the applicable department of insurance shall govern.
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Examples of Authorized Control Level in a sentence

  • Risk Based Capital — The Total Adjusted Capital figure in Column One from the page titled Five Year Historical Data in the Annual Statement for the most recent year filed with PID, divided by the Authorized Control Level Risk-based Capital figure.

  • The Company will maintain at all times Total Adjusted Capital in an amount not less than 4.0 times the Company’s Authorized Control Level Risk-Based Capital.

  • Permit the Authorized Control Level Risk Based Capital Ratio of HCPCIC and TypTap to be less than 300% at the end of the Fiscal Year ending December 31, 2023 or at the end of any other Fiscal Year thereafter.

  • If the Ceding Company has become insolvent or is unable to pay its debts or has a Risk-Based Capital ratio of less than [***]% of its Authorized Control Level Risk Based Capital (each term as defined in the insurance laws and regulations in the Ceding Company’s state of domicile) or has had the authority to transact any class of insurance withdrawn, suspended or made conditional by any court or regulatory authority.

  • Vesta will not permit "total adjusted capital" (within the meaning of the Risk-Based Capital for Insurers Model Act as promulgated by the NAIC as of the date hereof (the "Model Act")) of VFIC at any time from and after the Effective Date to be less than 150% of the applicable "Authorized Control Level" (within the meaning of the Model Act) for VFIC at such time.

  • The Borrower will cause PLICO to maintain at all times Total Adjusted Capital in an amount not less than 3.6 times PLICO’s Authorized Control Level Risk-Based Capital.

  • With respect to any Insurance Subsidiary and as at any date of determination, the ratio of (a) Total Adjusted Capital for such Insurance Subsidiary as of such date, to (b) the Authorized Control Level RBC for such Insurance Subsidiary as of such date, in each case as such terms are defined by the NAIC Risk-Based Capital (RBC) for Insurers Model Act.

  • As of December 31, 2004, each of the Regulated Subsidiaries had statutory net worth in excess of 300% of their respective authorized control levels, as such term is defined in the NAIC Risk-Based Capital guidelines ("Authorized Control Level").

  • The Borrower will cause each of CBIC, RLIC and MHIC at all times to maintain a ratio of (a) Total Adjusted Capital (as defined in the Risk-Based Capital Act or in the rules and procedures prescribed from time to time by the NAIC with respect thereto) to (b) Authorized Control Level (as defined in the Risk-Based Capital Act or in the rules and procedures prescribed from time to time by the NAIC with respect thereto) of at least four hundred fifty percent (450%).

  • Once branch and subsidiary charges are calculated, they will be added together on a single worksheet entitled Calculation of Authorized Control Level of Capital (LR29), except as follows (which will be consolidated, as indicated): The number of bond issuers will be calculated for the consolidated holding of branches and subsidiaries combined.


More Definitions of Authorized Control Level

Authorized Control Level means, with respect to any Life Insurance Subsidiary, the dollar amount computed as such Life Insurance Subsidiary's authorized control level Risk-Based Capital in accordance with the RBC Instructions.
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Authorized Control Level means the number which appears as line 28 of the Five Year Historical Data Schedule of the Annual Statement of National Life for the most recent year or such number as would appear on such line if a comparable number were computed as of the end of any calendar quarter. "Governmental Authority": any nation or government, any state or other political subdivision thereof or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. "Person": an individual, partnership, corporation, business trust, joint stock company, trust, unincorporated association, joint venture, limited liability company, Governmental Authority, or other entity of whatever nature. "Pledge and Security Agreements": shall mean, collectively (i) the Pledge and Security Agreement of even date herewith executed by the Holding Company in favor of National Life, and (ii) the Pledge and Security Agreement of even date herewith executed by NLV Financial in favor of National Life. "Total Adjusted Capital": means the number which appears as line 27 of the Five Year Historical Data Schedule of the Annual Statement of National Life for the most recent year or such number as would appear on such line if a comparable number were computed as of the end of any calendar quarter. "Undertaking": as defined in the Second Recital.
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Authorized Control Level means an amount of risk-based capital that is equal to the "Authorized Control Level RBC" of Penn Life, as such term is defined in Section 221.1-A of Article V-A of the Pennsylvania Insurance Department Act of 1921 as in effect on December 31, 2010.
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Authorized Control Level has the meaning specified in subsection J of Section 1 (or the relevant successor section, if any) of the Model Act.
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Related to Authorized Control Level

  • authorized control level RBC means the number determined under the risk-based capital formula in accordance with the RBC instructions;

  • Authorized Contact is a representative authorized by Customer to request service changes using procedure outlined herein.

  • mandatory control level RBC ’ means the product of .70 and the authorized control level RBC.

  • RBC level means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

  • Initial Level means, in respect of the Index, the Closing Level on the Closing Date, provided that if such day is not an