The initiative could redirect NZ$600-700m (US$360-420m) annually towards natural hazard risk reduction while shifting fire services funding to the Crown.
Proposed amendments would enable the complaints body to hear disputes arising from Australia's new ban on the use of adverse genetic test results in life insurance underwriting.
The Insurance Authority has urged insurers and brokers to strengthen self-reporting and oversight after inspections found recurring governance and due diligence gaps.
Profitability is expected to edge higher over the next two years, as Hanwha Life targets a recovery in underwriting margins and leans on steadier earnings from overseas and non-insurance units.
