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International

Central bank ‘at fault’ over collapsed insurer's supervision

July 03, 2019 Reprints

Experts said that the Reserve Bank of New Zealand did not act on suspicions about CBL Insurance Ltd.'s financial strength in 2013, allegedly failing to prevent its collapse in early 2018, Stuff.co.nz reported. A report by the experts found that the central bank lacked the resources and experience to investigate the insurer's capitalization and did not actively pursue its concerns until 2017. T

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Central bank ‘at fault’ over collapsed insurer's supervision

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