New Zealand Gazette – 2013 – No. 121

Page 3374

✨ Insurance and Financial Activities Schedule

NEW ZEALAND GAZETTE, No. 121

30 AUGUST 2013

Schedule 11—Full year

Insurance, securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products

		Page
1	Insurance products	3374
2	Insurance business in the banking group	3374
3	Non-consolidated insurance and non-financial activities	3375
4	Banking group credit exposure to non-consolidated insurance business	3375
5	Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products	3376
6	Arrangements to ensure no adverse impacts arising from activities specified in clause 5	3376
7	Amounts represented by activities specified in clause 5(a) and (b)	3376

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 or not the assets relating to that member’s insurance business are managed and accounted for as separate funds; and

Gazette.govt.nz — NZ Gazette 2013, No 121

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✨ LLM interpretation of page content

💰 Schedule 11—Full year Insurance and Financial Activities

Domain💰 Finance & Revenue
KeywordsInsurance, Securitisation, Funds Management, Fiduciary Activities, Banking Group

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