Oregon Revised Statutes Insurance § 733.302

(1) The Director of the Department of Consumer and Business Services shall annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance policies and annuity and pure endowment contracts that every life insurer doing business in this state issued on or after the operative date stated in ORS 743.204 for the Standard Nonforfeiture Law for Life Insurance and before the operative date of the valuation manual.

(2) In calculating reserves, the director may use group methods and approximate averages for fractions of a year or otherwise.

(3) In lieu of the valuation of the reserves required of any foreign or alien insurer under the Standard Valuation Law, the director may accept any valuation that the insurance supervisory official of any state or other jurisdiction makes or causes to be made if the valuation complies with the minimum standard provided under the Standard Valuation Law.