The Reserve Bank of New Zealand has selected 15 insurers to take part in its review of the appointed actuary regime.

“Over the past few years the Reserve Bank has stated its intention to undertake a thematic review,” the central bank says. “The review is now in progress.”

It aims to gain a better understanding of how appointed actuaries work for the industry in practice, and identify potential areas for improvement.

The insurers and their actuaries will be required to complete short fact-based surveys, and some will be asked to provide relevant documents.

They will soon receive information requests for the review’s desk-based phase next month and in July, which will be followed by site visits in August and October.

A report is expected in the first quarter of next year.