The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. This article applies to all life insurance companies and fraternal benefit societies that are doing business in this state or that are authorized to reinsure life insurance, annuities or accident and health insurance business in this state.
B. This article applies to all annual statements that are filed with the director after the effective date of this article. All insurers shall file the following with the director each year:
1. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis that is conducted pursuant to section 20-696.03.
2. A memorandum in support of the opinion pursuant to section 20-696.04.
C. If a foreign company is required to submit a statement of actuarial opinion, the director may accept the statement of actuarial opinion that is filed by the company with the insurance supervisory regulator of another state if the director determines that the opinion reasonably meets the requirements applicable to a company domiciled in this state.
D. The director, by order, may adopt methods of actuarial analysis and actuarial assumptions that are necessary for an acceptable opinion and memorandum consistent with this article.