The solvency of the insurance sector has fallen, despite the sector being profitable, says the Reserve Bank of New Zealand (RBNZ) in its May 2019 Financial Stability Report released yesterday..
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Allianz has dropped three commercial lines in New Zealand which amount to around NZ$40 million (US$26.2 million) of grossGuppy, chief executive of Allianz New Zealand, said: "After much consideration, and following a review of the strategic opportunities available to our business in New Zealand, the decision has been made for Allianz to exit the three lines of business.
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NZCB's building guarantee now providing $5 billion in cover to Kiwi. Of the more than 13,000 residential housing projects across New.
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