... This document should serve as a basic benchmark for insurance supervisors in all jurisdictions. It can be used when establishing a supervisory regime or for identifying areas in existing regimes that needto be improved ...

... The Principles on Capital Adequacy and Solvency as set out in this paper are applicable to all insurance companies and are relevant for evaluating the solvency of life insurance undertakings and non-life (or general) insurance undertakings ...

... On-site inspection, whether by the supervisory authority or its representatives, is a vitally important part of the supervisory process, closely related to the on-going monitoring process ...

... This standard builds on the framework set out in the IAIS paper Insurance Supervisory Principles approved in September 1997. Its objective is to describe the essential elements of a sound asset management system and reporting framework across the full rangeof investment activities ...

... The Technical Committee of IAIS has decided to build upon the principles relating to coordination and information-sharing between supervisors with respect to international insurance groups and other international financial groups which are significantly involved in insuranceactivities....

Insurance companies assume risk on behalf of policyholders. They mitigate these risksby acquiring insurance with reinsurers. Through the use of reinsurance, an insurer can reducerisk, stabilise its solvency, use available capital more efficiently and expand underwritingcapacity. Reinsurance...