New Zealand's Reserve Bank amends insurance rules to boost solvency without raising premiums.

The Reserve Bank of New Zealand has released a second amendment to the Insurance Solvency Standard to address issues with the accounting standard for insurance contracts and improve solvency rules. Effective March 1, 2025, the changes aim to maintain market stability without increasing insurance premiums or introducing new policies. The amendment ensures sufficient capital is set aside for various risks and follows stakeholder feedback from a consultation process.

3 months ago
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