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New Zealand urged to cut insurance regulation, rely more on ratings agencies

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Don Brash, former governor of the Reserve Bank of New Zealand, has said that insurers should be held accountable more to market forces and ratings agencies, reports Asia Insurance Review citing Interest.co.nz news website.

Mr. Brash warned that the central bank is "taking on too much responsibility" regulating insurers and banks. Rating agencies are better equipped to make calls on solvency of insurers, said Mr. Brash.

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