Regulatory Alerts2022-05-17
Added · Updated
Solvency Standard for Non-life Insurance Business in Run-off 2014
The Reserve Bank of New Zealand issued this solvency standard under the Insurance (Prudential Supervision) Act 2010 to regulate licensed insurers with non-life portfolios entirely in run-off. The document modifies the general Solvency Standard for Non-life Insurance Business 2014 by replacing specific risk capital factors and increasing the required risk margin for premium liabilities from 75% to 90%. It came into force on 1 January 2015 and applies to insurers meeting specific portfolio and licensing conditions.