(a) The Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in the State of Delaware from the requirements of § 1121 of this title, provided:
(1) The Commissioner has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing; and
(2) The company computes reserves using assumptions and methods used prior to the operative date of the valuation manual in addition to any requirements established by the Commissioner and promulgated by regulation.
(b) For any company granted an exemption under this section, §§ 1113, 1114, 1114A, 1114B, 1115, 1115A, 1116, 1117, 1118, 1119 and 1120 of this title shall be applicable. With respect to any company applying this exemption, any reference to § 1121 of this title found in §§ 1113, 1114, 1114A, 1114B, 1115, 1115A, 1116, 1117, 1118, 1119 and 1120 of this title shall not be applicable.
Structure Delaware Code
Chapter 11. ASSETS AND LIABILITIES
Subchapter III. Life Insurance Reserves
§ 1111. Title and definitions.
§ 1113. Actuarial opinions of reserves.
§ 1114. Computation of minimum standard.
§ 1114A. Computation of minimum standards for annuities.
§ 1114B. Computation of minimum standard by calendar year of issue.
§ 1115. Reserve valuation method—Life insurance and endowment benefits.
§ 1115A. Reserve valuation method—Annuity and pure endowment benefits.
§ 1117. Optional reserve calculation.
§ 1118. Reserve calculation—Valuation net premium exceeding the gross premium charged.
§ 1119. Reserve calculation—Indeterminate premium plans.
§ 1120. Minimum standard for accident and health insurance contracts.
§ 1121. Valuation manual for policies issued on or after the operative date of the valuation manual.
§ 1122. Requirements of a principle-based valuation.