Guernsey : Financial Sector Assessment Program Update-Detailed Assessment of Observance on Insurance Core Principles

Publication Date: January 14, 2011
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Summary: Guernsey’s status as the largest international insurance center in Europe hinges on its progressive infrastructure and operational flexibility. Guernsey updates its regulatory regime continually and has implemented all the recommendations arising from the 2003 Offshore Financial Center (OFC) assessment. The updated regulatory framework has a high level of observance with the Insurance Core Principles (ICPs). The Guernsey Financial Services Commission (GFSC) should expand its range of enforcement powers and also implement the public disclosure standards established by the International Association of Insurance Supervisors (IAIS). The mission advised the GFSC to continually assess the practical implementation of Own Solvency Capital Assessment (OSCA).
Series: Country Report No. 11/2
Subject(s): Financial Sector Assessment Program | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes

Publication Date: January 14, 2011
ISBN/ISSN: 9781455213757/1934-7685 Format: Paper
Stock No: 1GGYEA2011002 Pages: 61
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