There have been "a disproportionately high number of compliance issues noted" with disclosure by insurance companies in New Zealand, the local central bank said yesterday.The Reserve Bank of New Zealand said it intended to undertake a thematic review of compliance with disclosure on financial strength rating and solvency obligations during 2017."A thematic review that focuses on disclosure compliance has been chosen because of the Reserve Bank's approach to prudential supervision which relies on a 'three pillars' approach to supervision: self-discipline, market discipline, and regulatory discipline. "An aim of the market discipline pillar is to reduce the information asymmetry between licensed entities and market participants."The IMF's New Zealand Financial Sector Assessment Program report findings and recommendations is expected to be published around April 2017.