Regulatory Alerts2022-05-17
Draft Solvency Standard for Captive Insurers Transacting Non-life Insurance Business December 2014
The Reserve Bank of New Zealand issued this standard to establish specific solvency requirements for licensed captive insurers transacting non-life insurance business. It modifies the general Solvency Standard for Non-life Insurance Business by reducing the Fixed Capital Amount to 1 million New Zealand dollars and recalibrating insurance risk capital charges based on per-event retention. The document also introduces new exposure classes for transactions with parent entities and adjusts asset concentration risk limits to reflect the unique structure of captive insurers.
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