Regulatory Alerts2022-02-27
Licensing and guidelines for insurers
The Reserve Bank of New Zealand requires all entities carrying on insurance business in New Zealand to obtain a licence under the Insurance (Prudential Supervision) Act 2010. The document outlines a mandatory multi-stage application process involving early engagement, iterative meetings, and comprehensive submission of business plans and supporting evidence. It further provides guidance on prudential supervision requirements, including provisions for declarations and exemptions to ensure regulatory flexibility.
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