Regulatory Alerts2022-05-17
Solvency Standard for Captive Insurers Transacting Life Insurance Business
The Reserve Bank of New Zealand issued this solvency standard under the Insurance (Prudential Supervision) Act 2010 to regulate licensed captive insurers transacting life insurance business. The document mandates that these insurers maintain a positive Solvency Margin by calculating Actual Solvency Capital and Minimum Solvency Capital separately for each Life Fund. It establishes strict requirements for capital composition, deductions, and actuarial attestation to ensure continuous compliance and financial stability.
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