New Zealand's government opened a consultation on 10 August over a proposed levy covering prudential regulatory costs.
Insurers are among the financial institutions that could be required to pay. If approved, the levy would also apply to banks, non-bank deposit takers and financial market infrastructures.
The 10-week consultation will consider whether the levy should recover the full cost of prudential regulation, which sectors should be covered and how the amount payable by individual regulated entities should be calculated. The proposal could create an additional regulatory cost for insurers, although the size of any levy has yet to be determined.
Submissions are due on 16 October, with final Cabinet decisions expected in early 2027. The Reserve Bank of New Zealand is required to consult representatives of entities that would be liable for the levy or significantly affected by it before regulations can be recommended.