A. The statement of actuarial opinion shall apply to all the business the company has in force on the statement date, whether directly issued or assumed, regardless of when or where issued, for example, reserves of Exhibits 5, 6, and 7 of the Annual Statement, and claim liabilities in Exhibit 8, Part 1 of the Annual Statement, and equivalent items in the separate account statement or statements of a life insurance company, and corresponding items in the annual statements of other companies.
B. If the appointed actuary determines as the result of asset adequacy analysis that a reserve should be held in addition to the aggregate reserve held by the company and calculated in accordance with methods set forth in accordance with the requirements of the Insurance Article, Title 5, Subtitle 3 (The Standard Valuation Law), Annotated Code of Maryland, and regulations adopted under it, the company shall establish the additional reserve.
C. Additional reserves established under §B of this regulation and considered not necessary in subsequent years may be released. Any amounts released shall be disclosed in the actuarial opinion for the applicable year. The release of these reserves is not considered an adoption of a lower standard of valuation.