Affordability and a shifting regulatory environment – including upcoming ESG obligations – are dominating industry experience across the nation. In RADAR FY2023 New Zealand Snapshot, we use the latest data and our market expertise to shed light on the New Zealand general insurance landscape and help insurers chart a steady path forward.
Download our report to understand the latest developments and understand what it all means for insurers
The NZ general insurance industry is facing a raft of change on various fronts, with natural disasters once again the leading concern. This time, they’ve struck on a scale never before seen in Aotearoa, accelerating discussion around managed retreat from high-risk locations and frameworks to address the issues.
At the same time, the Reserve Bank and the Financial Markets Authority are firmly focused on ensuring regulatory settings respond appropriately to a rapidly evolving marketplace.
More proactive and intensive supervision of insurers is likely, while fair conduct, customer expectations and cyber reporting are all high on the agenda.
Our report also highlights the wave of upcoming standardised Environmental, Social and Governance (ESG) reporting disclosures – the biggest changes to financial reporting and disclosure standards in a generation – as well as a host of other ESG obligations on the horizon.
RADAR New Zealand FY2023 Snapshot offers critical insurance insights, exploring all the important details, considerations and actions for insurers in building resilience and sustainability for Aotearoa in 2024 and beyond.
