Licensing

All insurers carrying on business in New Zealand (as defined by the Act) must be licensed. This section provides information on the licensing requirements and the steps insurers will need to take to obtain a licence before carrying on insurance business.

Applying for a licence

Please contact the Reserve Bank if you intend to apply for a licence and we will assign an insurance supervisor to be your point of contact during the licensing process.

We encourage you to make contact with us early in your planning process.

View contact details for the Insurance team.

Licence application form

Please contact the Reserve Bank and request a Full licence application form.

View contact details for the Insurance team.

 

Guidelines for insurers
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Please refer to the following guidelines produced by the Reserve Bank to assist licensed insurers in understanding the supervision requirements of the Act and requirements for licensing.
Information on licensed insurers
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Insurers seeking to carry on insurance business in New Zealand are required to be licensed under section 19 of the Insurance (Prudential Supervision) Act 2010 (the Act), unless section 246 (1A) applies, which means that in some circumstances insurers retain a provisional licence where they are no longer writing new policies. This is the register of insurers who are licensed to carry on insurance business in New Zealand.
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Licences may be cancelled for a number of reasons, as outlined in section 30 of the Act. The register of cancelled licences reflects the legal company name recorded with the Companies Office at the time the licence was cancelled.
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The Insurance (Prudential Supervision) Act 2010 (the Act) includes general provisions relating to declarations and exemptions. The purpose of declarations and exemptions is to allow flexibility when applying the insurance prudential supervision regime where appropriate, provided certain conditions are met.