Regulatory Alerts2022-05-17
Added · Updated
Solvency Standard for Non-life Insurance Business 2014
The Prudential Supervision Department of the Reserve Bank of New Zealand issued this standard to regulate the solvency margin requirements for licensed non-life insurers. It mandates the calculation of Actual and Minimum Solvency Capital through detailed risk charges for insurance, catastrophe, asset, and counterparty risks. The document further establishes reporting obligations for insurers and appointed actuaries, including the submission of annual solvency returns and financial condition reports.