Regulatory Alerts2022-05-17
Added · Updated
Draft Solvency Standard Non-life Business in Run-off December 2014
The Reserve Bank of New Zealand issued this solvency standard under the Insurance (Prudential Supervision) Act 2010 to regulate licensed insurers with non-life portfolios entirely in run-off. It modifies the general Solvency Standard for Non-life Insurance Business by replacing specific risk capital factors and increasing the required risk margin for probability of sufficiency from 75% to 90%. The standard came into force on 1 January 2015 and applies to insurers meeting specific portfolio and licensing conditions.