Legal and regulatory update for the life and health insurance sector

5 Dec 2023 - The Reserve Bank of New Zealand has announced two key decisions following the second round of public consultation on its liquidity policy review (C2). They have decided they will not adopt the international liquidity metrics as their existing metrics work well and there would be a high cost to change them. They have also confirmed the assets that will be classed as liquid under their new policy, which will be comprised of Level 1 and Level 2 liquid assets. Level 1 liquid assets will include NZ Government Bonds and related instruments. Level 2 liquid assets will include Local Government Funding Agency securities and highly rated Kauri securities, and will be subject to a cap. https://www.rbnz.govt.nz/hub/news/2023/12/key-liquidity-policy-review-decisions-announced

5 Dec 2023 - The Financial Markets Authority has published its annual report for the year to 30 June 2023. https://www.fma.govt.nz/news/all-releases/media-releases/fma-publishes-2023-annual-report/