Regulatory Alerts2022-02-27
Review of the Insurance (Prudential Supervision) Act 2010
The Reserve Bank of New Zealand is conducting a comprehensive review of the Insurance (Prudential Supervision) Act 2010 to modernize prudential regulation and align it with international best practices. The regulator is currently consulting on an exposure draft Amendment Bill that proposes significant changes, including expanded supervisory powers, updated distress management provisions, and a proportionate regulatory framework. This consultation is scheduled to close on 28 August 2026, with substantive provisions targeted for commencement in 2028 following parliamentary approval.
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