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The U.K. financial sector is globally systemic, open, and complex. It has weathered the COVID-19 pandemic fittingly, thanks to the post-GFC reforms, a proactive macroprudential stance, and an effective multipronged response to maintain financial stability. Brexit uncertainties are being handled...
Persistent link: https://www.econbiz.de/10013168903
The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed...
Persistent link: https://www.econbiz.de/10013169066
The Norwegian insurance sector is well-capitalized. In recent years, the authorities have taken steps to recapitalize …
Persistent link: https://www.econbiz.de/10012302809
Persistent link: https://www.econbiz.de/10010125750
Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR's economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global...
Persistent link: https://www.econbiz.de/10012604066
This Technical Note reviews the state of financial safety net and crisis management arrangements in Belgium. Although actions in Belgium and at the European Union (EU) level have improved the Belgian financial safety net and crisis management arrangements, Belgium still faces challenges, and...
Persistent link: https://www.econbiz.de/10011809413
preserving financial stability. While the legal, regulatory, and supervisory frameworks for banking and insurance sector have …
Persistent link: https://www.econbiz.de/10011460156
This note provides an update and assessment of developments in insurance supervision since 2014. It is part of the 2020 …, 2019. It has not been updated for the impact of recent global events associated with the COVID-19 pandemic. The insurance … sector is large, especially long-term (life) insurance, highly international and has been growing steadily. The long …
Persistent link: https://www.econbiz.de/10012604079
Italian insurance sector since the last assessment concluded in 2013. The mission conducted a target review focusing on the … weaknesses without a full assessment of Italy's observance with the International Association of Insurance Supervisors (IAIS …) Insurance Core Principles (ICPs). Implementation of the European Union (EU) Solvency II Directive in 2016 has significantly …
Persistent link: https://www.econbiz.de/10012266779
This paper provides an assessment of the insurance sector in the United Kingdom. The United Kingdom has one of the … deepest, most developed insurance markets in the world. Insurance penetration is 50 percent higher than in the European Union … or other advanced economies, and the expenditure per capita in insurance amounts to USD 5,429 as compared with USD 3 …
Persistent link: https://www.econbiz.de/10011675319