Regulatory Alerts2022-02-27
How we regulate and supervise insurers
The Prudential Supervision Department of New Zealand's financial regulator outlines its risk-based approach to overseeing the insurance sector under the Insurance (Prudential Supervision) Act 2010. Supervision intensity is determined by an insurer's significance and risk profile, categorizing entities as either designated insurers with dedicated oversight or portfolio-managed insurers subject to group-level monitoring. Licensed insurers are held accountable by their boards and senior management for compliance, supported by thematic reviews, guidelines, and structured engagement to ensure financial stability and effective self-discipline.
Share