The components of the classical angular momentum $L_i$, satisfy the Poisson bracket relation $$\{L_i,L_j\}=\epsilon_{ijk}L_k,\tag{1}$$ and forms a Lie algebra (i.e, anti-symmetric, obeys the Jacobi identity etc).
In the theory of Lie groups, the commutator $$[\hat{L}_i,\hat{L}_j]=i\epsilon_{ijk}\hat{L}_k\tag{2}$$ is definitely called a $\mathfrak{so}(3)$ Lie algebra, because the $\hat{L}_i$'s generate ${\rm SO}(3)$ group elements $\left(\exp\left(-i\theta_i\hat{L}_i\right)\right)$.
I wonder whether the PB Lie algebra $(1)$ is also called a $\mathfrak{so}(3)$ Lie algebra. And if so, why? What is the relation of $(1)$ to the ${\rm SO}(3)$ group, if any?