Regulatory Alerts2024-12-11
Addendum to the Regulatory Impact Statement – Interim Solvency Standard Second Amendment
The Reserve Bank of New Zealand issued this addendum to update the Regulatory Impact Statement regarding the Second Amendment to the Interim Solvency Standard 2023. The amendment aims to correct technical errors and ambiguities in the in-force standard to restore original policy intent without introducing new capital requirements. Key changes include re-basing the underwriting risk capital charge, allowing recognition of deferred reinsurance expense assets, and reinstating credit risk charges on interest-sensitive assets, with an effective date of 1 March 2025.
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