✨ Insurance and Financial Regulations
28 FEBRUARY 2011 NEW ZEALAND GAZETTE, No. 21 577
Schedule 11—Full year
Insurance, securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products
Contents
| Page | |
|---|---|
| 1 | Insurance products ..................................................................................... |
| 2 | Insurance business in the banking group ....................................................... |
| 3 | Non-consolidated insurance and non-financial activities........................... |
| 4 | Banking group credit exposure to non-consolidated insurance business........ |
| 5 | Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products ..................................................................................... |
| 6 | Arrangements to ensure no adverse impacts arising from activities specified in clause 5 .................................................................................. |
| 7 | Amounts represented by activities specified in clause 5(a) and (b) ........... |
1 Insurance products
In this Schedule, insurance products relate to insurance contracts that constitute insurance business.
2 Insurance business in the banking group
A statement on whether or not the registered bank’s banking group carries on any insurance business, and if so, the following information:
(a) the aggregate amount of insurance business as at the balance date, where the amount is calculated in accordance with the registered bank’s conditions of registration;
(b) an explanation of how the registered bank’s banking group manages its insurance business, including information on whether—
(i) any insurance business is carried on in special purpose subsidiaries whose business activities predominantly comprise insurance business, and if so,—
(A) the name of each of those subsidiaries; and
(B) a description of the insurance business carried on in each subsidiary; and
(ii) in relation to any other member of the registered bank’s banking group, any insurance business is accounted for in its statement of financial position, and if so,—
(A) the name of that member;
(B) whether the assets relating to that member’s insurance business are managed and accounted for as separate funds; and
(C) a description of the insurance business carried on by that member; and
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NZ Gazette 2011, No 21
✨ LLM interpretation of page content
💰 Schedule 11: Full year insurance and financial activities
💰 Finance & RevenueInsurance, Securitisation, Funds Management, Banking Group, Financial Regulations