Applying to be a licensed insurer

How insurers are licensed and supervised

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

Applying for a licence

If you're an entity that intends to carry on insurance business in New Zealand must apply to the Reserve Bank for a licence and satisfy conditions under the Insurance (Prudential Supervision) Act 2010 .

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.

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

Links to the Reserve Bank website

After you're licensed as an insurer

All insurers are required to be registered on the Financial Service Providers Register (FSPR) and must file an annual confirmation, and pay the associated fee and levies. The amount of levy you pay as a licensed Insurer depends on your annual gross premium revenue (GPR).

Filing an annual confirmation

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

  • Class 3 applies to FSPs that are not required to be licensed in relation to the market service of acting as a financial institution, and
  • Class 3A applies to FSPs that are required to be licensed in relation to the market service of acting as a financial institution.

Schedule of fees and levies

All help topics

Getting started on the register 6 guides

Before you can register as a financial service provider, maintain your details, or use the register, there are a few things you need to know.

Registering a financial service provider (FSP) 9 guides

To register as a financial service provider you must apply online. The process depends on what kind of provider you are — an individual or an entity.

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).

Providing licensed or certified services 5 guides

You need to be licensed or certified to provide certain financial services. Find out who to apply to.

Filing an annual confirmation 3 guides

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

Managing your registration as a financial service provider (FSP) 7 guides

All FSPs must keep their details on the register up to date. We may deregister your FSP if you fail to meet your obligations.

Deregistration and reregistration 3 guides

You can voluntarily deregister a financial service provider (FSP), or it may be deregistered by the Registrar. In some circumstances you can object to a deregistration, or apply to have the FSP reregistered.

Paying fees and levies 3 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.

Managing your online services account 6 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.