Australia: Insurance Core Principles—Detailed Assessment of Observance
IMF Staff Country Reports, November 21, 2012
Source details
- Canonical URL
- Australia: Insurance Core Principles—Detailed Assessment of Observance
Other formats
Bibliographic details
- Published: November 21, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781589069794.002
Executive summary and key findings
- The insurance industry in Australia "has weathered the global financial crisis well and was resilient to the catastrophic events in 2010/11."
- The industry is described as "mature but relatively small compared to the banking sector."
- Assets held by insurers represented "only about 8 percent of the financial system total assets as at end-2011."
- Market consolidation since 2007: the total number of players fell "from 190 to 172."
- Branches of foreign-owned general insurers increased "from 36 to 43."
- Industry composition as at end-June 2011:
- "24 life insurers"
- "108 general insurers"
- "19 reinsurers"
- "7 captive general insurers"
- "14 friendly societies"
Thematic focus areas (as identified in the source)
- Capital adequacy requirements
- Financial institutions
- Financial regulation and supervision
- Financial sector policy and analysis
- Financial services
- Insurance
- Insurance companies
- Solvency
Keywords and governance indicators extracted
- APRA member
- APRA staff
- business plan
- Capital adequacy requirements
- capital base
- corporate governance
- CR
- financial system
- Global
- holding company
- Insurance
- Insurance companies
- ISCR
- Solvency
- supervision activity
Publication metadata (selected)
- Pages: "137"
- Volume: "2012"
- Issue: "312"
- Series: "Country Report No. 2012/312"
- DOI: "https://doi.org/10.5089/9781589069794.002"
- Stock No: "1AUSEA2012006"
- ISBN: "9781589069794"
- ISSN: "1934-7685"
- Publication date on page: "November 21, 2012"
Source: International Monetary Fund — Australia: Insurance Core Principles—Detailed Assessment of Observance