The Reserve Bank has today released a consultation document: Insurance solvency standards: financial reinsurance. The Reserve Bank announcement says:
"The consultation document contains an exposure draft of proposed changes to the solvency standard for life insurance business in respect of reinsurance. The intent of the proposal is to ensure that all liabilities implicit within reinsurance arrangements are appropriately accounted for in the solvency standard. It is intended that the proposed changes be implemented following a transition period."
Submissions close on 9 December 2013. Link.