Regulatory Alerts2023-05-12
Definitions for Annual and Quarterly Insurer Reports
The Reserve Bank of New Zealand issued this document to standardize the definitions required for the Annual and Quarterly Insurer Reports submitted by licensed insurers. It establishes a hierarchy for resolving conflicts between terms defined in the document, the Insurance (Prudential Supervision) Act, and accounting standards like NZ IFRS 17. The text provides detailed specifications for financial, solvency, and statistical data reporting, including materiality thresholds and precise definitions for insurance revenue, service expenses, and balance sheet items.
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