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 ?
The after tax impact of any one loss remains less than 1% of statutory surplus
According to the rating agency, as of March 31, 2019, AmeriTrust's statutory surplus was $613.5 million.
Lackawanna Insurance Group is a workers' compensation specialist with assets of more than USD 300m and statutory surplus of USD 100m as of September 30, 2018.
At September 30, 2018 Tri-State had net admitted assets of $105.4M and statutory surplus of $44.4M.
PFG's statutory surplus exposure to risky assets, which Fitch defines as below investment-grade (BIG) securities, troubled real estate, unaffiliated common equity and Schedule BA other invested assets, is moderately higher than life insurance peers at 90% at YE 2017 compared to the industry average of 80%.
Based on the 2017 profit distribution plan of the company, the Board recommends the appropriation of 10% of the profit after tax as statutory surplus reserve and 10% as discretionary surplus reserve and the payment of a cash dividend of RMB1.1497 (including tax) for every ten shares for the year 2017.
Its statutory surplus and total adjusted capital were $15.4 billion and $17.3 billion, respectively.
This represents the third installment of a USD 13m aggregate capital infusion over the past three months, and is expected to bolster statutory surplus to approximately USD 30m as of March 31, 2017.
Best with premiums earned of $37 million and about $25 million in statutory surplus. Hallenbeck during his tenure was able to stabilize and expand the business into an A.M.
'The financial impact of the transaction will enable us to increase our statutory surplus and risk-based capital and will help us to continue to provide long term care insurance products to our agents and consumers,' said William Neugroschel, president and CEO of United Security.
The change in New York, which is effective in January, revised the capital rule to allow life insurance companies to upstream profits from their subsidiaries from the "lesser of" statutory net gain from operations or 10 percent of statutory surplus standard, to the "greater of" standard.
It is a nonprofit which also serves as the statutory surplus line advisory organization to the California Department of Insurance.