Regulatory Alerts2022-12-16
Reserve Bank of New Zealand Insurance Industry Update December 2022
The Reserve Bank of New Zealand issued its final 2022 Insurance Industry Update to outline key regulatory developments and establish a holiday engagement pause from 19 December 2022 to 20 January 2023. The document details the ongoing review of the Insurance (Prudential Supervision) Act 2010, the results of the first Life Insurance Industry Stress Test, and the successful rollout of the Annual Insurance Questionnaire to improve compliance monitoring. Looking ahead to 2023, the Reserve Bank highlighted the implementation of the Interim Solvency Standard 2023 and scheduled further consultations on IPSA governance and omnibus amendments.
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