✨ Insurance Regulations
NEW ZEALAND GAZETTE, No. 3 — 15 JANUARY 2015
Notice
- Title and commencement—(1) This amendment standard* may be cited as the Solvency Standard for Non-life Insurance Business in Run-off ("Standard") and comes into force on 17 December 2014.
(2) The Standard has the status of a disallowable instrument for the purposes of the Legislation Act 2012 and is amended under section 236 of the Insurance (Prudential Supervision) Act 2010.
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Description—The Standard specifies the capital requirements for licensed insurers carrying on non-life insurance business that are in run-off, methods for calculating and reporting solvency and related matters of a licensed insurer, and disclosure of solvency-related information. The amendment makes the standard applicable to licensed insurers carrying on non-life insurance business that are in run-off only if the standard applies to the licensed insurer under a condition of the insurer’s licence.
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Availability—The Standard is available for inspection:
a. at the head office of the Reserve Bank of New Zealand, 2 The Terrace, Wellington; and
b. on the Reserve Bank of New Zealand’s website at
http://www.rbnz.govt.nz/regulation_and_supervision/insurers/regulation/5969215.pdf
Dated this 17th day of December 2014.
GRAEME WHEELER, Governor, Reserve Bank of New Zealand.
*New Zealand Gazette, 12 April 2012, No. 41, page 1230
2015-au253
Notice of Amendment to Captive Insurers Transacting Non-life Insurance Business
This notice is given pursuant to section 236 of the Insurance (Prudential Supervision) Act 2010.
Notice
- Title and commencement—(1) This amendment standard* may be cited as the Solvency Standard for Captive Insurers Transacting Non-life Insurance Business ("Standard") and comes into force on 17 December 2014.
(2) The Standard has the status of a disallowable instrument for the purposes of the Legislation Act 2012 and is amended under section 236 of the Insurance (Prudential Supervision) Act 2010.
-
Description—The Standard specifies the capital requirements for licensed captive insurers carrying on non-life insurance business, methods for calculating and reporting solvency and related matters of a licensed insurer, and disclosure of solvency-related information. The amendment makes the standard applicable to licensed captive insurers carrying on non-life insurance business only if the standard applies to the licensed captive insurer under a condition of the insurer’s licence.
-
Availability—The Standard is available for inspection:
a. at the head office of the Reserve Bank of New Zealand, 2 The Terrace, Wellington; and
b. on the Reserve Bank of New Zealand’s website at
http://www.rbnz.govt.nz/regulation_and_supervision/insurers/regulation/5969201.pdf
Dated this 17th day of December 2014.
GRAEME WHEELER, Governor, Reserve Bank of New Zealand.
*New Zealand Gazette, 28 March 2013, No. 38, page 1150
2015-au257
Notice of Amendment to Solvency Standard for Life Insurance Business
This notice is given pursuant to section 236 of the Insurance (Prudential Supervision) Act 2010.
Notice
- Title and commencement—(1) This amendment standard* may be cited as the Solvency Standard for Life Insurance Business ("Standard") and comes into force on 17 December 2014.
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✨ LLM interpretation of page content
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Notice of Amendment to Solvency Standard for Non-life Insurance Business in Run-off
(continued from previous page)
💰 Finance & Revenue17 December 2014
Solvency Standard, Non-life Insurance, Run-off, Capital Requirements
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
💰 Notice of Amendment to Captive Insurers Transacting Non-life Insurance Business
💰 Finance & Revenue17 December 2014
Solvency Standard, Captive Insurers, Non-life Insurance, Capital Requirements
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
💰 Notice of Amendment to Solvency Standard for Life Insurance Business
💰 Finance & Revenue17 December 2014
Solvency Standard, Life Insurance, Capital Requirements
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
NZ Gazette 2015, No 3