NZ life insurers rate poorly on claims payouts, costs and solvency: RBNZ

NZ life insurers rate poorly on claims payouts, costs and solvency: RBNZ
Jenny Ruth
Life insurers in New Zealand tend to be more profitable than their peers in other OECD countries, pay out less in claims, have higher costs and have less solvency capital.That's the conclusion of a paper on the sector written by Jinny Leong and Adrian Allott for the Reserve Bank, the sector's prudential regulator since 2011.These findings are likely to lead to higher minimum capital requirements, in line with similar higher capital requirements for banks mandated late last year."In 2017, boosted by strong investment returns, the return on equit...

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