New accounting standard may cause you solvency problems.
In this newsletter, we provide information on the MJW submission to MBIE. It principally covers the main topics in the MJW Report published in November 2015.
The report makes seven recommendations aimed at delivering real benefits to the average New Zealand consumer.
For the directors and senior management of an insurance operation, the greatest fears are having insufficient funds to pay claims and failing to earn an adequate return on capital.
For both the payer and the recipient, profit commission can be a double-edged sword.
Most New Zealand life insurance legislation dates from 1873. There is wide agreement that change to legislation is appropriate.