An overview of the life insurance sector in New Zealand

Jinny Leong and Adrian Allott
Additional contact information
Adrian Allott: Reserve Bank of New Zealand, http://www.rbnz.govt.nz

Reserve Bank of New Zealand Bulletin, 2020, vol. 83. No.1, No 1, 20 pages

Abstract: This article provides an overview of the life insurance sector in New Zealand and highlights issues in the sector. It provides a range of indicators relating to New Zealand’s life insurance sector, and where possible, compares them to international peers. The purpose of this article is to support market discipline by sharing some of the data collected by the Reserve Bank in recent years. The insurance sector plays an important role in the financial system by spreading the costs of risk events through time, across the population and, via reinsurance, internationally. Life insurance coverage softens the financial impact of events such as death, disablement and major illness, allowing insured individuals and their families to maintain their living standards. It may also support mechanisms for long-term saving and provision for retirement, although the sale of new insurance policies that provide this facility has largely ceased in New Zealand.

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.rbnz.govt.nz/hub/-/media/project/sites ... 20/rbb2020-83-01.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbbul:jan2020:1

Access Statistics for this article

More articles in Reserve Bank of New Zealand Bulletin from Reserve Bank of New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Reserve Bank of New Zealand Knowledge Centre ().