Official Cash Rate to remain restrictive

The Monetary Policy Committee today agreed to keep the Official Cash Rate at 5.50 percent.

Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

Proposed sale of Lumley General Insurance (N.Z.) Limited to IAG (NZ) Holdings Limited

The Reserve Bank of New Zealand has completed its assessment under section 28 of the Insurance (Prudential Supervision) Act 2010 of the proposed change of control of Lumley General Insurance (N.Z.) Limited to IAG (NZ) Holdings Limited.

The Reserve Bank of New Zealand has completed its assessment under section 28 of the Insurance (Prudential Supervision) Act 2010 of the proposed change of control of Lumley General Insurance (N.Z.) Limited to IAG (NZ) Holdings Limited.

The Reserve Bank of New Zealand is satisfied that Lumley General Insurance (N.Z.) Limited would continue to meet the licensing criteria set out in section 19(1)(a) to section 19(1)(m) of the Insurance (Prudential Supervision) Act 2010, should the proposed transaction occur.

Media Contact:

Angus Barclay
External Communications Adviser
Ph 04 471 3698, 027 337 1102, [email protected]