Regulatory Alerts2022-05-17
Solvency Standard for Life Insurance Business (August 2011, amended December 2014)
The Insurance Policy Prudential Supervision Department of the Reserve Bank of New Zealand issued this standard under the Insurance (Prudential Supervision) Act 2010 to regulate solvency for licensed life insurers. It mandates that insurers maintain a positive Solvency Margin by calculating Actual Solvency Capital against Minimum Solvency Capital at the Life Fund level. The document defines capital components, required deductions, and reporting obligations for appointed actuaries and boards to ensure continuous compliance.
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