FMA, RBNZ disappointed by life insurers' response; $1.4m of issues found

FMA, RBNZ disappointed by life insurers' response; $1.4m of issues found
Jenny Ruth
By Jenny Ruth Sept. 17 (BusinessDesk) - Sixteen New Zealand insurers have identified more than 75,000 customer issues valued at least $1.4 million but regulators still say they are disappointed by the life insurance industry's response to their conduct and culture review. "Overall, the regulators were disappointed by the responses. Significant work is still needed to address the issues of weak governance and ineffective management of conduct risk," the Financial Markets Authority and the Reserve Bank of New Zealand say in a joint statemen...

More Finance

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Michael Lorimer exits Grant Samuel amid more sector change
Finance

Michael Lorimer exits Grant Samuel amid more sector change

Lorimer has sold his 80% stake in the corporate advisory firm.

Duncan Bridgeman 26 Jun 2025