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and uncoordinated implementation among the national regulators.This article summarizes the trends in insurance market … regulation following the introduction and consequent implementation of the Solvency II as a new regulatory framework for the … major risk of increased costs related to implementation of the Solvency II principles in day to day business reporting of …
Persistent link: https://www.econbiz.de/10011315698
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 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 paper presents the report on observance of standards and codes (ROSC) for the financial sector prepared in connection with the financial sector assessment program (FSAP). The FSAP covers the Basel Core Principles for effective banking, the International Association of Insurance Supervisors...
Persistent link: https://www.econbiz.de/10011245457
This paper focuses on describing the international practice on the various forms of retirement benefit payment currently allowed in countries throughout the world and the regulatory environment surrounding these different forms of benefit payment. The analysis suggests considerable variance...
Persistent link: https://www.econbiz.de/10004962918
This paper provides an update on the significant regulatory and supervisory development in the Spanish insurance sector since 2006. The Spanish authorities have taken steps to address a number of shortcomings identified in the 2006 Financial Sector Assessment Program. Most notably, cooperation...
Persistent link: https://www.econbiz.de/10011243830
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Purpose – The determination of the capital requirements represents the first Pillar of Solvency II. The main purpose of the new solvency regulation is to obtain more realistic modelling and assessment of the different risks insurance companies are exposed to in a balance-sheet perspective. In...
Persistent link: https://www.econbiz.de/10010815111