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The insurance sector and economic stability

Annalise Vucetich, Roger Perry, Richard Dean, Kristin Langwasser

The Reserve Bank is responsible for promoting the maintenance of a sound and efficient financial system. The New Zealand insurance sector forms a key part of the financial system, and makes an important contribution to economic growth and development. Disruption to the insurance sector and the services it provides can have adverse consequences for the real economy. This article describes the New Zealand insurance sector and its role in the economy, and explains the factors that might disrupt the provision of insurance services in New Zealand.