Regulatory Alerts2022-05-17
Reserve Bank of New Zealand Guideline on Transfers and Amalgamations for Licensed Insurers
The Reserve Bank of New Zealand issues this guideline to regulate licensed insurers seeking approval for the transfer or amalgamation of their insurance business under the Insurance (Prudential Supervision) Act 2010. The document mandates that insurers submit written requests accompanied by detailed actuarial reports, financial statements, and policyholder impact assessments to demonstrate solvency and prudent risk management. Upon review, the Reserve Bank may grant unconditional or conditional approval, refuse the transaction with stated reasons, or impose specific conditions regarding business conduct and policyholder protection.
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