✨ Financial Disclosure Requirements
594 NEW ZEALAND GAZETTE, No. 21 21 FEBRUARY 2014
(C) a description of the insurance business carried on by that member; and
(c) comparative figures for the previous corresponding period for the information that is required to be disclosed under paragraph (a).
3 Non-consolidated insurance and non-financial activities
A statement on whether or not the registered bank carries on any insurance business or non-financial activities in New Zealand that are outside its banking group, and if does, the following information:
(a) a brief explanation of the registered bank’s involvement in that insurance business or those non-financial activities;
(b) the total assets, total equity, and total profits before and after tax of that insurance business on a consolidated basis, and if that insurance business is carried on by an overseas incorporated company, separately in respect of the overseas company’s group and that group’s New Zealand business;
(c) the total assets, total equity, and total profits before and after tax of those non-financial activities on a consolidated basis, and if those non-financial activities are carried on by an overseas incorporated company, separately in respect of the overseas company’s group and that group’s New Zealand business; and
(d) comparative figures for the previous corresponding period for the information that is required to be disclosed under paragraphs (a) to (c).
4 Banking group credit exposure to non-consolidated insurance business
(1) The information in subclause (2) in respect of the registered bank’s banking group, for the full year accounting period or as at the balance date, as the case may be.
(2) With respect to the insurance group carrying on the insurance business referred to in clause 3, if applicable, and with respect to any affiliated insurance group outside the overseas banking group—
(a) the nature and amount of any credit enhancements provided by the registered bank’s banking group;
(b) the total amount of funding provided by the registered bank’s banking group;
(c) the total amount of any other credit exposures provided by the registered bank’s banking group, broken down according to their ranking on a liquidation of the insurance group; and
(d) if the entity heading the insurance group has one or more financial strength ratings, claims paying ability ratings, or credit ratings applicable to its long term senior unsecured obligations payable in New Zealand, in New Zealand dollars, in respect of each such rating—
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NZ Gazette 2014, No 21
✨ LLM interpretation of page content
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Schedule 11—Full year
(continued from previous page)
💰 Finance & RevenueInsurance, Non-financial activities, Credit exposure, Financial disclosure, Banking group