Insurers have leaned on actuaries – RBNZ review

Insurers have leaned on actuaries – RBNZ review
Paul McBeth
Actuaries have quit rather than give in to pressure from insurance companies to change their advice and, in at least one case, an insurer sacked their actuary. That’s among the findings of the Reserve Bank’s review into the role of appointed actuaries, who are tasked with measuring and reporting on material risks to an insurer’s solvency and providing impartial advice to an insurer’s board. The actuary’s role gained prominence in the fallout from the failure of CBL Insurance, where PwC’s assessment as the appointed actuary was used by the...

More Finance

Wow. It’s all basketball!
Finance

Wow. It’s all basketball!

US investment in basketball is lapping at our shores in more ways than one.

Pattrick Smellie 25 Mar 2025
FMA files criminal charges against David McEwen
Finance

FMA files criminal charges against David McEwen

New Zealand’s financial watchdog has filed criminal charges against former financial adviser David McEwen for allegedly failing to comply with a stop order, which prevented him from contacting potential investors.The Financial Markets Authority (FMA) had made a permanent stop ord...

Staff reporters 18 Mar 2025
FNZ employee shareholders revolt over latest capital raise
Finance Exclusive

FNZ employee shareholders revolt over latest capital raise

Long-standing employees believe new raise halves their holdings.

Victoria Young 14 Mar 2025
Washington plans to open private funds to more investors
Finance

Washington plans to open private funds to more investors

 Momentum builds to change rules blocking most Americans from investing in private equity.