Legal and regulatory update for the life and health insurance sector

10 Jul 2023 - Minister of Finance, Hon Grant Robertson, June 2023 diary released with the following potential financial services sector related meeting noted:
• 8 June 2023 – Meeting with RBNZ Officials
• 12 June 2023 – Meetings with Treasury Officials
• 15 June 2023 – Meeting with Insurance Council of Australia, Insurance Industry representatives
• 15 June 2023 - Meeting with Swiss Re
• 19 June 2023 – Meetings with Treasury Officials
• 20 June 2023 - Meeting with ICNZ President Toni Ferrier, Insurance Councillor Tim Grafton
• 20 June 2023 – Meeting with Treasury Officials
• 26 June 2023 – Meetings with Treasury Officials
• 26 June 2023 - Meeting with Minister Edmonds, Bank CEs, ASB, ANZ, BNZ

https://www.beehive.govt.nz/sites/default/files/2023-07/Ministerial%20Diary%20June%202023.pdf

10 Jul 2023 - The FMA are considering using our exemption power to exempt certain CREs from the requirement to include a link to their climate statements in their annual report, with conditions, for a period of two years. Submissions close 7 August 2023. https://www.fma.govt.nz/business/focus-areas/consultation/climate-related-disclosures-timing-challenge/

10 Jul 2023 - The RBNZ is providing affected entities with an opportunity to review the amended banking prudential requirement (BPR) documents before finalising the framework for the proposed mutual capital instrument. Affected entities have until 31 July to provide any further feedback. https://www.rbnz.govt.nz/hub/news/2023/07/mutual-capital-instrument-rules-near-completion