There has been a high level of activity in relation to transfers of business between insurers, changes of control and insurers entering or exiting the market. The AMP/Resolution Life transaction is a notable example. IPSA powers have also been used in relation to solvency-level settings for some insurers, as well as in other areas such as risk management.
The Canterbury earthquakes, which commenced just a few days before the enactment of IPSA, resulted in an intense period of supervisory activity and application of IPSA provisions. Some administrative features of IPSA have proved cumbersome to utilise and could be improved.