Applying to be a licensed insurer

Applying to the Reserve Bank for a licence

All insurers must be licensed by the Reserve Bank of New Zealand and listed on a register of licensed insurers which they hold.

Applying for a licence

Entities intending to offer insurance services in New Zealand can apply to the Reserve Bank for a licence and satisfy conditions under the Insurance (Prudential Supervision) Act 2010.

Insurance (Prudential Supervision) Act 2010 — Section 19 New Zealand Legislation

If you intend to apply, contact the Reserve Bank for a licence.

Licensing Reserve Bank

The Reserve Bank's role

The Reserve Bank regulates and supervises all licensed insurers in New Zealand and is responsible for administering the Insurance (Prudential Supervision) Act 2010.

Insurers Reserve Bank

The Reserve Bank maintains the register of insurers who are licensed to carry on insurance business in New Zealand.

Register of licensed insurers in New Zealand Reserve Bank

After you're licensed as an insurer

All insurers are also registered on the Financial Service Providers Register (FSPR) and must file an annual confirmation and pay the associated fee. At the same time you pay a levy to the Financial Markets Authority (FMA). The amount you pay depends on your annual gross revenue from premiums (GPR).

How to file an annual confirmation

As a licensed insurer, the FMA levies you pay come under Class 3 of the Financial Markets Authority (Levies) Amendment Regulations 2017.

Schedule of fees and levies

All help topics

Using the Financial Service Providers Register (FSPR) 4 guides

Get help to search the FSPR, upload documents, set up your online services account and find out what to do if you forget your RealMe® username or password.

Registering a financial service provider (FSP) 11 guides

You can apply online to be a registered FSP. The process depends on what kind of FSP you are — an individual, an entity already registered with the Companies Office, or another entity or body.

Dispute Resolution Schemes (DRSs) 2 guides

If you provide financial services to retail clients, you must join a DRS within 10 working days of registering and keep your membership details up to date on the Financial Service Providers Register (FSPR).

Paying fees and levies 2 guides

If you're a financial service provider (FSP), you pay fees for some transactions, including registration. You also pay levies to the Financial Markets Authority (FMA). There are several ways to pay.

Applying to provide licensed services 6 guides

You can apply to become an authorised financial adviser (AFA) or Qualifying Financial Entity (QFE), or be licensed to provide other financial services. Find out who to apply to.

Filing an annual confirmation 3 guides

To remain registered as a financial service provider (FSP), every year you must confirm your FSP's details and services. Find out how to file your confirmation online or change the month you do it.

Managing your registration as a financial service provider (FSP) 6 guides

All FSPs must keep their details up to date. We may deregister your FSP if you don't comply, but you can reregister in some circumstances. You can also deregister voluntarily.

Managing your online services account 7 guides

Your FSPR online services account allows you to keep your FSP's contact and payment details up to date. From your account dashboard you can view and manage outstanding applications and tasks.