Regulatory Alerts2024-12-11
Reserve Bank of New Zealand Feedback Statement on Exposure Draft of Second Amendment to Interim Solvency Standard
The Reserve Bank of New Zealand issued a feedback statement regarding the second amendment to the Interim Solvency Standard following a 2024 consultation that received eight stakeholder responses. The regulator incorporated specific changes to address concerns, including modifications to the Modified Premium Allocation Approach, clarification of premium receivable treatment, and the exclusion of levies from capital charges. The finalized amendments are scheduled to take effect for all insurers on 1 March 2025 as part of the ongoing review of insurance solvency standards.
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