This report summarises disappointing findings from an evaluation of New Zealand fire and general insurers’ responses to the Life Insurer Conduct and Culture review undertaken by the Financial Markets Authority and the Reserve Bank of New Zealand in 2019.

The Financial Markets Authority and Reserve Bank of New Zealand have completed their joint review into the conduct and culture of 11 New Zealand banks. The regulators identified significant weaknesses in the governance and management of conduct risks. These weaknesses have resulted in a number...