Canada: Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance
IMF Staff Country Reports, March 7, 2014
Source details
- Canonical URL
- Canada: Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance
Other formats
Bibliographic details
- Published: March 7, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475523652.002
Executive summary
- This Detailed Assessment report is part of the 2013 Financial Sector Assessment Program (FSAP) of Canada.
- The report assesses Canada’s regulatory regime and supervisory practices against international standards.
- Publication date: March 7, 2014.
Key findings
- The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company.
- OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets.
- Requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.
Thematic coverage
- Subjects covered include: Capital adequacy requirements; Corporate governance; Economic sectors; Financial institutions; Financial regulation and supervision; Insurance; Insurance companies; Legal support in revenue administration; Revenue administration.
- Keywords include: Asia and Pacific; automobile insurance; Capital adequacy requirements; corporate governance; Corporate governance; CR; Europe; Global; holding company; Insurance; Insurance companies; insurance coverage; insurance group; ISCR; Legal support in revenue administration; life insurance; line of business; mortgage insurance; risk management.
Content in this bundle
- Executive Summary — _cr1472