Japan: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
IMF Staff Country Reports, September 18, 2017
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- Japan: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
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Bibliographic details
- Published: September 18, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484319697.002
Overview
- Publication date: September 18, 2017
- Format: IMF Staff Country Reports
- Pages: 25
- Volume: 2017
- Issue: 281
- Series: Country Report No. 2017/281
- DOI: https://doi.org/10.5089/9781484319697.002
- Stock No: 1JPNEA2017004
- ISBN: 9781484319697
- ISSN: 1934-7685
Key findings about Japan's insurance sector
- The Japanese insurance sector is characterized by:
- a mature market
- high concentration
- the predominance of life insurance products with interest guarantees
- The current supervisory framework requires completion of a risk assessment methodology as part of a risk-based supervision framework.
- Implementing an economic-value-based solvency regime is recommended to be undertaken by the Japan Financial Services Agency (JFSA) as soon as practicable.
Policy recommendations and supervisory priorities
- JFSA should take further steps to implement an economic-value-based solvency regime as soon as practicable.
- Complete the risk assessment methodology to operationalize risk-based supervision.
- Use risk and impact assessment to:
- determine the appropriate supervisory intensity for each insurer
- develop a holistic supervisory plan
Subjects and keywords (as provided)
- Subject: Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Financial services, Insurance, Insurance companies, Solvency
- Keywords: a number of insurer, bank-insurance linkage, cash flow, CR, economic value, Financial Sector Assessment Program, foreign currency, FX exposure, Global, Insurance, insurance activity, Insurance companies, ISCR, life insurer, Solvency, solvency ratio, solvency regime, solvency regulation
International Monetary Fund. Monetary and Capital Markets Department "Japan: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision", IMF Staff Country Reports 2017, 281 (2017).
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- Country Report