Review of the Insurance Solvency Standards

Release date
01/10/2020
Main file

Status: The Reserve Bank has commenced work on a Review of the Insurance Solvency Standards, and a consultation on the principles guiding the Review is underway.

Consultation period: 30 November 2020 - 18 February 2021

30 November 2020

The Reserve Bank has released a consultation paper about the structure of our solvency standards and our approach to IFRS 17. This paper is a precursor to the interim standard(s) that will be exposed later in 2021. It raises a number of issues relating to how solvency standards are applied and proposes certain options for their resolution.


1 October 2020

The Reserve Bank has commenced a review of the Insurance Solvency Standards. An initial paper sets out the anticipated timeline for the review and exposes for consultation several principles intended to guide the review. A substantive consultation paper – responding to IFRS 17 and dealing with the structure of solvency standards - is expected to be issued in November 2020.