Insurance and Issues in Financial Soundness
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Summary:
This paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.
Series:
Working Paper No. 2003/138
Subject:
Capital adequacy requirements Commercial banks Financial institutions Financial regulation and supervision Financial sector policy and analysis Financial soundness indicators Insurance Insurance companies
English
Publication Date:
July 1, 2003
ISBN/ISSN:
9781451856002/1018-5941
Stock No:
WPIEA1382003
Pages:
44
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