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Reserve Bank of New Zealand to focus on high-impact insurers

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The Reserve Bank of New Zealand is adopting a risk-based approach in which it will focus more on insurers that have the most impact on the economy and pose the greatest risk to the insurance sector, Interest.co.nz reported.

Richard Dean, manager of operational policy at the Reserve Bank's prudential supervision department, said the central bank will take a proactive approach when dealing with risks to high-impact insurers and a reactive approach to low impact insurers.

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