Statutory surplus

Statutory surplus

The surplus of an insurance company determined by the accounting treatment of both assets and liabilities as established by state statutes.

Statutory Surplus

The budget surplus that an insurance company has after it calculates its assets and liabilities according to all applicable state and federal laws.
References in periodicals archive ?
Massachusetts Massachusetts Mutual Life Insurance Company (MassMutual) today announced strong consolidated statutory financial results1 for 2014, including a substantial increase in earnings and net income, record sales in key businesses, and highest-ever levels of assets under management (AUM)2, statutory surplus and total adjusted capital.
To confirm that this is so, one can compare the GAAP We shouldn't let accountants tell us what is valuable and what is not or statutory surplus of a publicly traded insurer or reinsurer with its market capitalization--the total value of its stock.
Horace Mann Educators Corporation today reported two capital transactions, one designed to improve its capitalization at the holding company level and one to improve the statutory surplus of its primary life insurance subsidiary.
Until 2008, Imagine had been providing increasing LOCs as part of the "old co" reinsurance agreement, which had enhanced Penn Treaty's statutory surplus position.
DCR also favorably views Allstate's excellent balance-sheet strength, which includes a conservative asset portfolio, strong loss reserve position, large statutory surplus position and low parent company financial leverage.
In addition, as a result of these catastrophe losses and significant dividend payments to its parent, Allstate's statutory surplus declined in 2005, resulting in deterioration of risk-adjusted capitalization.
FSA is permitted to upstream dividends to FSA Holdings up to the lessor of 10% of statutory surplus or 100% of adjusted net investment income for the most recent 12 months, without prior approval by the New York Insurance Department.
Alfa Mutual Insurance Company, the pool's largest member as measured by statutory surplus, had an RBC ratio of 479% for year-end 2005 and a five-year average of 493%.
up to the lessor of 10% of statutory surplus or 100% of adjusted net investment income for the last 12 months, without prior approval by the New York Insurance Department.
As of September 30, the statutory surplus of CMIC, as reported to the Insurance Department, was approximately $4,690,000.
MBIA may pay dividends up to the lessor of 10% of statutory surplus or 100% of adjusted net investment income for the last 12 months, without prior approval by the New York State Insurance Department.
As part of the restructuring of CRC's investment portfolio, Exor will be contributing $50 million to the company's capital to offset the after-tax realized loss, which will strengthen CRC's balance sheet on an economic basis and will maintain statutory surplus levels at a minimum of $270 million (statutory surplus at September 30, 1994, was $290 million).