N.M. Admin. Code § 13.2.6.2
Current through Register Vol. 35, No. 24, December 23, 2024
A. This rule shall apply to all life insurance companies and fraternal benefit societies doing business in this State and to all life insurance companies and fraternal benefit societies that are authorized to reinsure life insurance, annuities or accident and health insurance business in this state. This rule shall be applied in a manner that allows the appointed actuary to utilize his or her professional judgment in performing the asset analysis and developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the superintendent shall have the authority to specify specific methods of actuarial analysis and actuarial assumptions when, in the superintendent's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items.B. This rule shall be applicable to all annual statements filed with the office of the superintendent after the effective date of this rule. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with 13.2.6.9 NMAC, and a memorandum in support thereof in accordance with 13.2.6.10 NMAC, shall be required each year.N.M. Admin. Code § 13.2.6.2
13.2.6.2 NMAC - Rp 13 NMAC 2.6.2, 10-1-03