RBNZ says insurance sector has improved under its watch, plans to look at the law

Tue, 12 Apr 2016

By Paul McBeth April 12 (BusinessDesk) - The Reserve Bank says New Zealand's insurance sector is healthier since it took responsibility for monitoring the industry five years ago and the central bank plans to have a look at the law to make sure it's still working. The RBNZ will review the Insurance (Prudential Supervision) Act 2010 (IPSA), which added insurers to its oversight of supervising banks and non-bank lenders. The review won't cover the act's purposes, which is to promote a sound and efficient insurance sector and promote public...

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