: the minimum amount of bank deposits or life insurance company assets required by law to be kept as reserves
Example Sentences
Recent Examples on the WebThat January, the order became the Praetorian Mutual Life Insurance Co., a legal reserve life insurance company. Spencer Bevis, Dallas News, 26 Sep. 2021 Among the reasons for the changes, GE said, were revisions of some of its assumptions and valuations, additions of $990 million to legal reserves and the change from international to U.S. accounting standards. Michael Rapoport, WSJ, 13 Mar. 2019 Pershing Square has set aside $75 million in legal reserves related to the case, according to an annual report filed by a Pershing unit. David Benoit, WSJ, 22 Dec. 2017