Regulatory Alerts2023-04-03
Application for Overseas Insurer Non-Resident CEO/CFO and Appointed Actuary Equivalent Qualification
The Reserve Bank of New Zealand requires overseas licensed insurers to submit this application when appointing a non-resident Chief Executive Officer or Chief Financial Officer, or an appointed actuary lacking local fellowship status. The form mandates detailed disclosures regarding the nominee's qualifications, market knowledge, and availability for regulatory engagement, alongside statutory fit and proper certificates. This process ensures compliance with the Insurance (Prudential Supervision) Act 2010 by verifying that nominated individuals meet the prudential standards for senior oversight roles in New Zealand.
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