Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the IAIS Insurance Core Principles

February 8, 2017

Preview Citation

Format: Chicago

Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the IAIS Insurance Core Principles, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This paper presents an assessment of the observance of IAIS (International Association of Insurance Supervisors) insurance core principles in Turkey. During the last five years, the government of Turkey has made a significant effort to improve regulation and supervision of insurance and to improve adherence to international standards. The efficiency of information reporting, insurer monitoring, and supervision has greatly increased. Solvency tests have been strengthened. Reserving and investment practices have been improved. Improvements have been made in international cooperation and information exchange. However, major regulatory and supervisory challenges remain for Turkey to increase confidence in the sector and benefit from its continued growth.

Subject: Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Insurance, Insurance companies, Insurance supervision, Internal controls, Revenue administration, Solvency

Keywords: CR, Equity capital, Financial structure, Global, Insurance, Insurance companies, Insurance supervision, Internal controls, ISCR, Life insurance, Reinsurance company, Risk management, Solvency

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/047
Stock No:

1TUREA2017006
ISBN:

9781475576917
ISSN:

1934-7685

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