RBNZ highlights exorbitant life insurance commissions

Wed, 28 Nov 2018

By Jenny Ruth Nov. 28 (BusinessDesk) - The Reserve Bank is sending a strong signal to the life insurance industry that broker commissions are way out of whack with international comparisons. The central bank’s latest six-monthly Financial Stability Report contains a chart showing that commissions on life insurance policies in New Zealand are a whopping 20.4 percent of gross premium revenue. The country charging the next highest commissions is Mexico at a much lower 12.8 percent. Countries New Zealand would prefer to be compared with ra...

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