The solvency margin of AIA New Zealand Limited as at 30 June 2023 is $183.1m made up as shown.
Note: The RBNZ introduced the Interim Solvency Standard 2023 in October 2022 and this was effective for AIA NZ from 1 January 2023. The new standard has resulted in a change to the way solvency information is presented. The Solvency Capital and the Adjusted Prescribed Capital Requirement are larger than the information presented under the previous solvency standard, and the Solvency Position is now calculated for the Statutory Fund and for AIA NZ as a whole.
The ‘Adjusted prescribed capital requirement' is the minimum amount of capital required to be held for solvency purposes. ‘Solvency Capital' is the amount of capital actually held for those purposes. The difference between the two is the ‘Adjusted solvency margin’.