Regulatory Alerts2015-11-30
Reserve Bank of New Zealand Insurance Industry Update December 2015
The Reserve Bank of New Zealand issued this update to inform licensed insurers of progress on key regulatory initiatives including licence modifications, data collections, and solvency disclosure requirements. The document mandates that insurers comply with new data submission standards, publicly disclose solvency metrics in annual financial statements, and ensure fit and proper certificates include detailed summaries of due inquiry. Additionally, the Reserve Bank announced upcoming website upgrades and provided contact details for designated and portfolio supervisors to assist with implementation and compliance queries.
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