28 Tex. Admin. Code § 4.2802 - Scope and Applicability
(a) This
subchapter applies to all life insurance companies doing business in this state
and to all life insurance companies that are authorized to reinsure life
insurance, annuities, or accident and health insurance business in this
state.
(b) This subchapter must be
applied in a manner that allows the appointed actuary to utilize their
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 has 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, concerning Standard Valuation Law, 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 §
4.2806 of this title (relating to
Statement of Actuarial Opinion Based on an Asset Adequacy Analysis), and a
memorandum in support of the statement of opinion in accordance with §
4.2807 of this title (relating to
Description of Actuarial Memorandum Including an Asset Adequacy Analysis and
Regulatory Asset Adequacy Issues Summary), is required each year, unless exempt
under §
4.2808 of this title (relating to
Asset Adequacy Analysis Exemption).
Notes
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