✨ Insurance Solvency Standards
NEW ZEALAND GAZETTE, No. 3 — 15 JANUARY 2015
(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.
2. Description
The Standard specifies the capital requirements for licensed insurers carrying on 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 insurers carrying on life insurance business only if the standard applies to the licensed insurer under a condition of the insurer’s licence.
3. 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/5969211.pdf
Dated this 17th day of December 2014.
GRAEME WHEELER, Governor, Reserve Bank of New Zealand.
New Zealand Gazette, 4 August 2011, No. 118, page 3306
2015-au254
Notice of Revocation of Solvency Standard for Captive Insurers Transacting Life Insurance Business
This notice is given pursuant to section 236 of the Insurance (Prudential Supervision) Act 2010.
Notice
The Solvency Standard for Captive Insurers Transacting Life Insurance Business* issued in March 2013 is revoked from 17 December 2014.
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-au256
Notice of Amendment to Solvency Standard for Civic Assurance
This notice is given pursuant to section 236 of the Insurance (Prudential Supervision) Act 2010.
Notice
1. Title and commencement
(1) This amendment standard* may be cited as the Solvency Standard for Civic Assurance (“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.
2. Description
The Standard specifies the capital requirements for the New Zealand Local Government Insurance Corporation Limited (“Civic Assurance”), methods for calculating and reporting solvency and related matters of Civic Assurance, and disclosure of solvency-related information. The amendment makes the standard applicable to Civic Assurance only if the standard applies to Civic Assurance under a condition of the Civic Assurance’s licence.
3. 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/5969198.pdf
Dated this 17th day of December 2014.
GRAEME WHEELER, Governor, Reserve Bank of New Zealand.
New Zealand Gazette, 5 September 2013, No. 124, page 3462
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✨ LLM interpretation of page content
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Notice of Amendment to Solvency Standard for Life Insurance Business
(continued from previous page)
💰 Finance & Revenue17 December 2014
Solvency Standard, Life Insurance, Capital Requirements
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
💰 Notice of Revocation of Solvency Standard for Captive Insurers Transacting Life Insurance Business
💰 Finance & Revenue17 December 2014
Solvency Standard, Captive Insurers, Life Insurance, Revocation
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
💰 Notice of Amendment to Solvency Standard for Civic Assurance
💰 Finance & Revenue17 December 2014
Solvency Standard, Civic Assurance, Capital Requirements
- GRAEME WHEELER, Governor, Reserve Bank of New Zealand
NZ Gazette 2015, No 3