European Union: Publication of Financial Sector Assessment Program Documentation ––Technical Note on European Insurance and Occupational Pensions Authority Assessment

March 15, 2013

Preview Citation

Format: Chicago

European Union: Publication of Financial Sector Assessment Program Documentation ––Technical Note on European Insurance and Occupational Pensions Authority Assessment, (USA: International Monetary Fund, 2013) accessed December 21, 2024

Summary

Slow economic growth and continuing low interest rate environment is putting pressure on the insurance sector. Delays in the implementation of Solvency II could create vulnerabilities in the insurance sector. The approval of internal models is important for determining adequacy of capital levels to warrant a solvent industry. The new European system of financial supervision has been proactive, but much work has to be done. Access to information for monitoring, analyzing trends, and preventing systemic risk need to improve, along with operational independence.

Subject: Financial institutions, Financial sector policy and analysis, Financial sector stability, Insurance, Insurance companies, Solvency, Stress testing

Keywords: CR, EIOPA budget planning, EIOPA equivalence assessment, EIOPA measure, EIOPA title III, Financial sector stability, Global, Human resources framework, Insurance, Insurance companies, ISCR, Representation role, Solvency, Solvency II, Stress testing, Supervision harmonization effort

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/073
Stock No:

1EUREA2013009
ISBN:

9781475574852
ISSN:

1934-7685

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