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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Online Sources for this page:

Gazette.govt.nz PDF NZ Gazette 2015, No 3





✨ LLM interpretation of page content

💰 Notice of Amendment to Solvency Standard for Life Insurance Business (continued from previous page)

💰 Finance & Revenue
17 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 & Revenue
17 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 & Revenue
17 December 2014
Solvency Standard, Civic Assurance, Capital Requirements
  • GRAEME WHEELER, Governor, Reserve Bank of New Zealand