Solvency standards for Variable Annuity business

Release date
10/04/2015

Status: Closed

Timing: Changes in force from 10 April 2015 

On the 10 April 2015 the Reserve Bank issued the Solvency Standard for Variable Annuity Business 2015.  The new standard is effective from 10 April 2015 and applies to a licensed insurer if imposed under a condition of licence. The new standard sets out the Reserve Bank’s methodology for the determination of capital requirements for variable annuity business and provides further background on the Reserve Bank’s approach to associated conditions of licence.

The following documents were prepared during the development of the Variable Annuities Solvency Standard.

April 2015

Regulatory Impact Statement (PDF 364KB) 

19 December 2014

 Response to submissions (PDF 382KB) was released on the proposal in respect of the solvency treatment of Variable Annuities.

5 September 2014 

Public Consultation (PDF 383KB) document was released on the solvency treatment of Variable Annuities.