MS SB2706

Amends Mississippi's Standard Valuation Law (Section 83-7-23) to establish a principle-based valuation system for life insurance, accident and health insurance, and deposit-type contracts issued on or after the operative date of a new NAIC valuation manual

Requires the valuation manual to become operative on January 1 following adoption by at least 42 NAIC members (or 3/4 of voting members) and enactment by states representing over 75% of direct premiums written

Mandates annual actuarial opinions from appointed actuaries certifying that reserves are computed appropriately and comply with state law, with supporting memoranda kept confidential by the Insurance Commissioner

Authorizes the Commissioner to share reserve valuation information with other state, federal, and international regulatory agencies, the NAIC, and the Actuarial Board for Counseling and Discipline

Amends the Standard Nonforfeiture Law for Life Insurance (Section 83-7-25) to tie nonforfeiture interest rates and mortality tables to the valuation manual for policies issued after its operative date, with a minimum nonforfeiture interest rate floor of 4%