France: Financial Sector Assessment Program—Detailed Assessment of Observance of Insurance Core Principles

July 1, 2013

Preview Citation

Format: Chicago

France: Financial Sector Assessment Program—Detailed Assessment of Observance of Insurance Core Principles, (USA: International Monetary Fund, 2013) accessed September 20, 2024

Summary

This paper discusses key findings of the Detailed Assessment of Observance of Insurance Core Principles for France. The assessment reveals that insurance regulation and supervision are still predominantly carried out using a Solvency I approach. The insurance sector remained resilient through the recent global financial crisis. A thorough approach to assessing insurer technical provisions and their coverage by admissible assets has led to financially sound insurers. Individual French insurance companies have not needed any government or industry support.

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

Keywords: CR, Discount rate, Europe, Financial crisis, Global, Insurance, Insurance companies, Insurance group, Insurance supervision, Insurance supervision, Insurance undertaking, Internal audit, Internal controls, ISCR, Risk management, Senior management, Société Générale, Solvency, Solvency II, Solvency report

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/181
Stock No:

1FRAEA2013003
ISBN:

9781484370575
ISSN:

1934-7685

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