Cyprus: Financial Sector Assessment Program Update: Technical Note: Insurance Regulation and Supervision

June 1, 2009

Preview Citation

Format: Chicago

Cyprus: Financial Sector Assessment Program Update: Technical Note: Insurance Regulation and Supervision, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

This paper examines the Insurance Regulation and Supervision for Cyprus’s Financial Sector Assessment Program. The domestic nonlife market is dominated by motor insurance which accounted for 58 percent of net premiums. All Cypriot business is reinsured with nondomiciled reinsurers. Health insurance is regulated as nonlife business when written as add-ons to accident and sickness or as life business when written with life policies. A number of professional bodies and self-regulatory industry associations complement the regulatory regime for the insurance industry.

Subject: Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Insurance, Insurance companies, Insurance supervision, Solvency

Keywords: Company procedure, CR, Credit insurance, Cypriot insurer, Establishment firm, Financial Sector Assessment Program, Fraud agency, Insurance, Insurance activity, Insurance authority, Insurance companies, Insurance supervision, ISCR, Life insurer, Middle East, Passporting firm, Solvency, Supervision regime

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/170
Stock No:

1CYPEA2009004
ISBN:

9781451809954
ISSN:

1934-7685

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