UPDATE: Uniform Statement of Actuarial Opinion format for Captives

November 10, 2020

UPDATE: Uniform Statement of Actuarial Opinion format for Captives

 

The  purpose  of  this  Notice is to advise all participants in the captive insurance industry that the Oklahoma Insurance Department (OID), pursuant to OAC 365.25-15-3(e)(5), has determined that all Statements of Actuarial Opinion are to be submitted in the attached uniform format going forward.

  1. Certification of Loss Reserves and Loss Expense Reserves.
  2. The annual audit shall include an opinion as to the adequacy of the company’s life, health, or annuity reserves, or its loss reserves and loss expense reserves.
  3. Certification shall be in such form as the Insurance Commissioner deems appropriate.

The template is provided by going to the link here.

 

Questions or comments should be directed to
Donald Ashwood, PIR, ACS, ALMI
Donald.Ashwood@oid.ok.gov | (405) 522-2374