Regulatory Alerts2022-05-17
Solvency Standard for Non-life Insurance Business 2014
The Reserve Bank of New Zealand issued this standard under the Insurance (Prudential Supervision) Act 2010 to regulate solvency margins for licensed non-life insurers. It mandates a minimum fixed capital of 3 million NZD and requires insurers to calculate Actual Solvency Capital by deducting specific items from their total capital base. The document establishes detailed methodologies for determining Minimum Solvency Capital charges across insurance, catastrophe, asset, and counterparty risks while imposing strict reporting and actuarial oversight obligations.
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