Insurance
New Zealand SWF to invest in catastrophe reinsurance
NZ sovereign wealth fund ready to join fast-growing sector
BoE prudential regulator wrestles with early warning indicators calibration
Calibration for general insurers and with-profits funds frustrates regulator's progress
RBNZ licenses 99 insurers as three-year deadline passes
New Zealand's 2010 Insurance Act gave insurers until this Saturday to apply for and receive a licence allowing them to continue business operations in the country
UK regulator right to retain flexibility to force changes on internal models
Head of the PRA plans to use early warning indicators in supervisory work, notwithstanding the risk of EU challenge
Asia faces increasingly complex risk, says MAS assistant managing director
Ng Nam Sin says insurers face both growing opportunities and increasingly large, complex and interconnected risks; Asean committee will help promote co-operation
Mutuals warn of capital threat from UK 'twin peaks' regulation
Guidance needed on treatment of with-profits fund surpluses under new supervisory regime
Norwegian regulator to ease internal model timetable in wake of Solvency II delays
France's regulator also considering adjusting pre-approval schedule
Insurers must prepare for climate change, says Zeti
Bank Negara Malaysia’s Zeti says climate change presents a huge challenge to Asian insurance industry; risk management systems must adapt
Bermuda Monetary Authority expands regulation team
Bermuda Monetary Authority plans to expand headcount in banking and insurance regulatory departments
IMF paper dissects shadow banking bailouts
IMF study examines how bailouts were used in the shadow banking system during the crisis; suggests the risk of future bailouts remains
Trinidad and Tobago governor looks to empower ombudsman
The governor of the Central Bank of Trinidad and Tobago outlines plans to tackle financial inclusion; hopes to legally equip ombudsman and improve financial literacy
Irish deputy assesses Solvency II implementation in Bermuda
Matthew Elderfield examines application of Solvency II regulations to Bermudan insurance market; says Bermuda is making “extremely good progress” towards compliance
Lithuanian Supervision Service gets new powers
Board of Lithuanian central bank grants Supervision Service right to exercise powers to supervise non-banking financial institutions
Ireland replaces credit institutions supervisor
Jonathan McMahon announces decision to return to the UK; Fiona Muldoon, director of insurance supervision to assume responsibility for the supervision of credit institutions
Dutch working paper investigates risk preferences
Netherlands Bank working paper provides new field of evidence on risk preferences over small stakes
Bank of Japan adds to Tankan survey pool
Japanese central bank refreshes companies and financial institutions that make up the sample group for the influential survey; adds 102 enterprises and five financial institutions
Solvency II may face delay as European Parliament scrutinises ‘Omnibus’ directive
A further delay to a key vote in the European Parliament on the Omnibus II directive has increased concerns that Solvency II's implementation in 2014 could be delayed
New chair for Basel Joint Forum
Basel-based Joint Forum on issues common to the banking, securities and insurance sectors selects new head
Insurance companies’ characteristics key to regulation: BoJ’s Shirakawa
Bank of Japan governor Masaaki Shirakawa says insurance companies’ long-term liability structure should be considered when reforming regulatory frameworks
MAS’s Kiang on opportunities to broaden insurance coverage in Asia
Monetary Authority of Singapore deputy chairman Lim Hng Kiang says insurance penetration remains relatively low in Asia
Singapore’s Shanmugaratnam highlights growth opportunities in Asian insurance markets
Monetary Authority of Singapore chairman Tharman Shanmugaratnam says untapped resources remain in Asia’s insurance markets
ECB lifts lid on shadow-banking activities
New statistics based on broad data collections will improve euro area reporting for financial institutions that fall outside traditional monitoring frameworks
Malaysia’s Jaganathan highlights importance of supervision on insurance firms
Bank Negara Malaysia assistant governor Donald Jaganathan says insurance firms are not insulated from uncertainties of financial system
RBNZ Bulletin – December 2010
Reserve Bank of New Zealand bulletin features articles on regulating non-bank financial firms