Germany: Financial Sector Assessment Program-Insurance Sector Supervision-Technical Notes
IMF Staff Country Reports, June 29, 2016
Source details
- Canonical URL
- Germany: Financial Sector Assessment Program-Insurance Sector Supervision-Technical Notes
Other formats
Bibliographic details
- Published: June 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498323710.002
Overview and Purpose
- Provides an update on the German insurance sector and an analysis of certain key aspects of the regulatory and supervisory regime.
- Includes an analysis of German practice in relation to selected Insurance Core Principles within a broader discussion of key issues in regulation and supervision.
- Focuses mainly on recent developments in the sector and key vulnerabilities, including:
- life insurance issues;
- vulnerabilities associated with the continuing low interest rate environment;
- preparations of the authorities and industry for implementation of the Solvency II requirements;
- supervisory approach to large insurance groups.
Key Findings and Areas of Analysis
- Life insurance issues are a central vulnerability identified in the German insurance sector.
- The continuing low interest rate environment is a significant source of sectoral vulnerability.
- Preparations for implementation of Solvency II requirements are a major focus for both authorities and industry.
- Supervisory approach to large insurance groups, including group-level oversight, is examined.
- German practice is evaluated against selected Insurance Core Principles to highlight strengths and areas for improvement.
Subjects and Keywords (as listed)
- Subjects:
- Accounting standards
- Financial institutions
- Financial sector policy and analysis
- Global systemically important insurers
- Insurance
- Insurance companies
- Public financial management (PFM)
- Solvency
- Keywords:
- a number of company
- Accounting standards
- approach to group supervision
- business organization
- companies' position
- company level
- CR
- fixed income
- Global
- Global systemically important insurers
- Insurance
- Insurance companies
- insurance group
- ISCR
- parent company
- reinsurance company
- risk assessment
- Solvency
- Solvency II
- Solvency II implementation
- Solvency II requirement
- Solvency II SCR
- supervisory view
- ZZR requirement
Content in this bundle
- Executive Summary