(1) “Actuarial Opinion” means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with section 1035 and with applicable Actuarial Standards of Practice.
(2) “Actuarial Standards Board” means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.
(3) “Annual statement” means that statement required by section 222 of this title which is required to be filed by the company with the office of the Commissioner annually.
(4) “Appointed actuary” means an individual who is appointed or retained in accordance with the requirements set forth in section 1033(c) to provide the actuarial opinion and supporting memorandum as required by section 535 of the Standard Valuation Law of 2018.
(5) “Asset adequacy analysis” means an analysis that meets the standards and other requirements referred to in section 1033(d).
(6) “Commissioner” means the Commissioner of Insurance of the Virgin Islands.
(7) “Company” means a life insurance company, fraternal benefit society or reinsurer subject to the provisions of this chapter.
(8) “Qualified actuary” means an individual who meets the requirements set forth in section 1033(b) of this section.