Establishing as an Insurer and Regulatory Compliance (NZ)
The Insurance (Prudential Supervision) Act 2010 requires all New Zealand insurers to be fully licensed by 2013. Finity has been closely involved with the rollout of the new framework and can assist insurers with meeting the regulatory requirements under this new regime.
Our services
- Business strategy
- Market entry studies
- Licensing
- Financial modelling
- Operational management of regulatory compliance
- Regulatory compliance reviews
- Appointed Actuary
We can:
- Assist with development of business plans based on up-to-date market knowledge
- Rigorously model financial performance and test sensitivity to the assumptions made in business planning
- Conduct due diligence research and analysis to establish your present or potential capacity to comply with Reserve Bank of New Zealand (RBNZ) requirements
- Help prepare RBNZ licence applications, including business plans, financial plans, risk management strategies and reinsurance management strategies
- Design and document operational policies and procedures to implement your business plan, and assist in the implementation process
- Undertake independent governance audits on policies and procedures.
- Provide services to meet your statutory obligations, including fully outsourced Appointed Actuary services
We can also engage with RBNZ on supervision proposals and represent your business on contentious issues.
Our services are based on a thorough understanding of the regulations and extensive work with RBNZ relating to the licensing requirements.
Contact us
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John Smeed+64 9 363 2894 Scan the tag for John’s vCard |
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