Regulatory Alerts2022-05-17
Insurer Foreign Business Return (IFBR) V1 Draft
The Reserve Bank of New Zealand issued the Insurer Foreign Business Return (IFBR) V1 draft to collect financial and exposure data from licensed New Zealand insurers for prudential supervision purposes. The document mandates that insurers report revenue and liabilities for life, general, and health insurance segments, specifically highlighting foreign business operations that constitute at least 10% of total insurance. Submission is required via a secure online facility by the date specified in the section 121 notice, with data reported in thousands of New Zealand dollars without subsidiary consolidation.
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