RBNZ opens insurance supervision consultation

Reserve Bank deputy governor Christian Hawkesby says the proposed changes to the IPSA would see the bank take a more proactive supervisory role. (Image: NZME)

Staff reporters

Wed, 27 Sep 2023

The Reserve Bank of New Zealand is calling for submissions on the final round of consultation as part of its review of the law governing insurance regulation and licensing.The bank started the process of reviewing the Insurance (Prudential Supervision) Act (IPSA) in 2016. There have been five prior rounds of consultation.Deputy governor Christian Hawkesby said the Reserve Bank of New Zealand (RBNZ) providing prudential supervision of insurers promoted public confidence in the sector.“The proposed changes will support the Reserve Bank...

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