This notice is given pursuant to section 55 of the Insurance (Prudential Supervision) Act 2010.
N o t i c e
1. Title and commencement-(1) This standard may be cited as the Solvency Standard for Civic Assurance
("Standard") and shall come into force on the date of issue.
(2) The Standard has the status of a Disallowable Instrument for the purposes of the Legislation Act 2012 and is issued pursuant to section 55 of the Insurance (Prudential Supervision) Act 2010.
2. Description-The Standard applies only to the
New Zealand Local Government Insurance Corporation Limited. The Standard specifies the minimum capital requirement, methods for calculating, disclosing and reporting solvency to the Reserve Bank of New Zealand
and other matters relating to solvency.
3. Availability-The Standard is available for inspection:
(a) at the head office of the Reserve Bank of
New Zealand, 2 The Terrace, Wellington; and
(b) on the Reserve Bank of New Zealand's website at
www.rbnz.govt.nz/regulation_and_supervision/insurers/regulation/5415759.pdf
Dated this 29th day of August 2013.
GRAEME WHEELER, Governor, Reserve Bank of
New Zealand.