Regulatory Alerts2013-11-30
Reserve Bank of New Zealand Insurance Industry Update December 2013
The Reserve Bank of New Zealand issued this update to outline the transition from the initial insurance licensing process to business as usual under the Insurance (Prudential Supervision) Act 2010. The document mandates the use of updated solvency returns, clarifies auditor review requirements, and announces upcoming consultations on solvency standards including capital quality and financial reinsurance. Additionally, it details revised statutory fund reporting timelines and the publication of financial strength ratings on the public register of licensed insurers.
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