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New Zealand's Reserve Bank warned Quest Insurance for not meeting financial and regulatory requirements.
The Reserve Bank of New Zealand has issued a warning to Quest Insurance Group for failing to meet requirements under the Insurance Prudential Supervision Act, including not maintaining minimum solvency margins and statutory funds.
Quest acknowledged the breaches, took corrective actions, and is enhancing risk management to prevent future issues.
The breaches did not affect Quest's ability to pay claims.
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El Banco de Reserva de Nueva Zelanda advirtió a Quest Insurance por no cumplir con los requisitos financieros y regulatorios.