Regulatory Alerts2022-05-17
Response to submissions: Solvency Standard Reissue 2014
The Reserve Bank of New Zealand issued this document to address submissions on the Exposure Draft of the Solvency Standards Reissue 2014, implementing changes to capital quality, contingent liabilities, and reinsurance stress testing. Key amendments include allowing perpetual non-cumulative debt as allowable capital, defining contingent liabilities under NZ IAS 37, and clarifying stress testing requirements for reinsurance agreements. The Reserve Bank also refined rules regarding health business accounting, foreign currency risk charges, and reinsurance recovery risk charges while maintaining existing disclosure and financial statement submission timeframes.
Share