Interim suspension of insurance sector data
On 29 March, the Reserve Bank of New Zealand - Te Pūtea Matua, will discontinue the following Quarterly Insurance Survey
publications:Insurance companies: Income statement (J10) andInsurance companies: Balance sheet (J20).
The Quarterly Insurance Survey will eventually be replaced by new financial reports. For more information and to keep up
to date with progress and timings, please visit our Insurance data upgrade page.
Background:
Insurers are in the process of transitioning to new international financial reporting standards, which will have a
significant impact on their reporting. The International Financial Reporting Standard, IFRS 17, is replacing IFRS 4, and
came into mandatory effect for insurers starting from 1 January 2023. Our insurance financial reporting templates are
being updated and consolidated in order to transition regulatory reporting under NZ IFRS 17.
In future, financial reporting will consist of an Annual Insurer Report (AIR) and a Quarterly Insurer Report (QIR). The
proposed new QIR will be based on the AIR but with slightly less detail. The financial reporting in the QIR is based on
management accounts instead of audited financial statements and will be utilised for future statistical publications
once the standards are in place for all insurers, which have varying balance dates from which the new standards will
apply.
New Statistics Highlights widget on RBNZ homepage
Late last year our website went through a major refresh. One of the key objectives was to make our statistics more
visible and accessible. Many of the statistical pages now have interactive charts allowing users to visually explore the
data more easily. We have also more recently designed a Statistics Highlights widget which bundles some of our
most-commonly searched statistics together. Take a look and let us know what you think either by emailing statsunit@rbnz.govt.nz or using the pop-up feedback box on our website.