Regulatory Alerts2024-12-11
Interim Solvency Standard 2023 (Consolidated)
The Reserve Bank of New Zealand issued the Interim Solvency Standard 2023 to establish regulatory capital requirements for licensed insurers operating in New Zealand. The standard mandates that insurers maintain a solvency margin calibrated to withstand a 1-in-200-year adverse event, with specific provisions for seismic risk at a 1-in-1,000-year threshold. It outlines detailed methodologies for calculating capital requirements, including adjustments for insurance items, related party exposures, and reporting obligations to ensure policyholder protection.
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