In this article, unless the context otherwise requires:

1. 1. "Company" means an insurer licensed pursuant to this title to transact life insurance or annuities in this state.
2. 2. "Variable annuity" means an individual policy or contract that provides for annuity benefits that vary according to the investment experience of a separate account or accounts that the insurer maintains pursuant to section 20-651 or the corresponding insurance laws of a foreign insurer's domiciliary state.