Fitch Ratings says reforms likely to hamper life insurance growth

Thu, 31 Jan 2019

By Jenny Ruth Jan. 31 (BusinessDesk) - Fitch Ratings says growth of the New Zealand life insurance industry is likely to be hampered in the short term while insurers address the issues raised by regulators about their conduct. The ratings agency is responding to a report published earlier this week by the Financial Markets Authority and the Reserve Bank which slammed the life insurance industry for being vulnerable to misconduct, ignoring whether its products are suitable for customers and too slow to make changes. “Regulators conclude...

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