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In South Africa, long-term insurers experienced some strains during the financial crisis, but there were no crisis-related failures. The capital markets suffered sharp declines but no systemic failures. The three standards assessments have found the regulatory system fundamentally sound. The...
Persistent link: https://www.econbiz.de/10011244153
This technical note discusses key findings of the assessment of Insurance Core Principles (ICP) for the reinsurance industry for Switzerland. It reveals that the Swiss reinsurance market is dominated by three large players with a strong international presence. The reinsurance industry comprises...
Persistent link: https://www.econbiz.de/10011244291
The Belgian insurance industry was adversely affected by the global financial crisis and continued to confront challenges related to legacy assets and economic uncertainties in Europe. The Belgian authorities have made significant progress in updating the insurance regulatory regime and...
Persistent link: https://www.econbiz.de/10011244392
This paper presents assessment results for the current state of the implementation of the Basel Core Principles for Effective Banking Supervision (BCP) in Spain. It found that significant changes have occurred in Spain since the last Financial Sector Assessment Program. The most serious has been...
Persistent link: https://www.econbiz.de/10011244598
This report discusses key findings of the Financial Sector Stability Assessment on Canada. Canada’s financial system successfully navigated the global financial crisis, and stress tests suggest that major financial institutions would continue to be resilient to credit, liquidity, and...
Persistent link: https://www.econbiz.de/10011244761
This paper discusses key findings of the Detailed Assessment of Observance of International Association of Insurance Supervisors (IAIS) Insurance Core Principles for the United States. Most U.S. insurers write primary insurance on U.S. risks. The U.S. market is characterized by low market...
Persistent link: https://www.econbiz.de/10011244770
This report presents a Detailed Assessment of the Observance of the Insurance Core Principles Report on Jersey. Other than the international business, most cover is obtained from insurers based overseas by the large insurance broker community on the island. There is no ombudsman and no...
Persistent link: https://www.econbiz.de/10011244882
In this study, the economic developments and policy responses of Trinidad and Tobago after the crisis is reviewed. Policy recommendations are used to strengthen the legal and regulatory framework. According to the IMF’s financial system stability assessment (FSSA), there were critical...
Persistent link: https://www.econbiz.de/10011244894
The staff report highlights that the insurance sector in Sweden is well developed and mature. The captive insurance segment is mainly driven by tax advantages. This assessment provides an update on the significant regulatory and supervisory developments in the insurance sector of Sweden since...
Persistent link: https://www.econbiz.de/10011244907
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10011244999