28 Tex. Admin. Code § 3.1602 - Scope and Applicability
(a) This
subchapter shall apply to all life insurance companies doing business in this
state and to all life insurance companies which are authorized to reinsure life
insurance, annuities or accident and health insurance business in this
state.
(b) This subchapter 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 commissioner shall have the authority to
specify specific methods of 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.
(c) This subchapter
applies to the actuarial opinion for the 2005 valuation through the 2016
valuation. The requirements of the valuation manual adopted under Insurance
Code Chapter 425, Subchapter B, apply to actuarial opinions for valuations on
or after January 1, 2017.
(d) A
statement of opinion on the adequacy of the reserves and related actuarial
items based on an asset adequacy analysis in accordance with §
3.1606 of this title (relating to
Statement of Actuarial Opinion Based on an Asset Adequacy Analysis), and a
memorandum in support thereof in accordance with §
3.1607 of this title (relating to
Description of Actuarial Memorandum Including an Asset Adequacy Analysis and
Regulatory Asset Adequacy Issues Summary), shall be required each year, unless
exempt under §
3.1608 of this title (relating to
Asset Adequacy Analysis Exemption).
Notes
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