Okla. Admin. Code § 365:10-5-171

Current through Vol. 42, No. 7, December 16, 2024

Section 365:10-5-171 - Scope

(a) This regulation 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 which are authorized to reinsure life insurance, annuities or accident and health insurance business in this State.

(b) This regulation shall be applicable to all annual statements filed with the office of the Commissioner after the effective date of this regulation. This regulation 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 analysis and actuarial assumptions when, in the Commissioner's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with Rule 365:10-5-176, and a memorandum in support thereof in accordance with Rule 365:10-5-177, shall be required each year.

Added at 15 Ok Reg 435, eff 10-9-97 (emergency); Added at 15 Ok Reg 1384, eff 7-1-98; Amended at 23 Ok Reg 2672, eff 7-14-06