{
  "title": "European Union: Publication of Financial Sector Assessment Program Documentation ––Technical Note on European Insurance and Occupational Pensions Authority Assessment",
  "publication": "IMF Staff Country Reports, March 15, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/european-union-publication-of-financial-sector-assessment-program-documentation-technical-40401",
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  "summary": "Slow economic growth and continuing low interest rate environment is putting pressure on the insurance sector. Delays in the implementation of Solvency II could create vulnerabilities in the insurance sector.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Slow economic growth and continuing low interest rate environment is putting pressure on the insurance sector.\n- Delays in the implementation of Solvency II could create vulnerabilities in the insurance sector.\n- The approval of internal models is important for determining adequacy of capital levels to warrant a solvent industry.\n- The new European system of financial supervision has been proactive, but much work has to be done.\n- Access to information for monitoring, analyzing trends, and preventing systemic risk need to improve, along with operational independence."
    },
    {
      "heading": "Policy recommendations and supervisory priorities",
      "content": "- Expedite timely and consistent implementation of Solvency II to reduce potential sector vulnerabilities.\n- Ensure robust assessment and approval processes for internal models to determine adequacy of capital levels and support solvency.\n- Strengthen information access across authorities for monitoring, trend analysis, and systemic risk prevention.\n- Enhance operational independence of supervisory bodies to improve effectiveness of oversight.\n- Continue work to operationalize and refine the new European system of financial supervision, including areas reflected in keywords: EIOPA budget planning, EIOPA equivalence assessment, EIOPA measure, EIOPA title III, human resources framework, representation role, ISCR, supervision harmonization effort, and stress testing."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subject: Financial institutions, Financial sector policy and analysis, Financial sector stability, Insurance, Insurance companies, Solvency, Stress testing\n- Keywords: CR, EIOPA budget planning, EIOPA equivalence assessment, EIOPA measure, EIOPA title III, Financial sector stability, Global, human resources framework, Insurance, Insurance companies, ISCR, representation role, Solvency, Solvency II, Stress testing, supervision harmonization effort\n\n---\n\n Content in this bundle\n\n- cr1373 — EIOPA Assessment\n  - cr1373 — EIOPA Assessment (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1373 — EIOPA Assessment (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 15, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475574852.002",
    "Slow economic growth and continuing low interest rate environment is putting pressure on the insurance sector.",
    "Delays in the implementation of Solvency II could create vulnerabilities in the insurance sector.",
    "The approval of internal models is important for determining adequacy of capital levels to warrant a solvent industry.",
    "The new European system of financial supervision has been proactive, but much work has to be done.",
    "Access to information for monitoring, analyzing trends, and preventing systemic risk need to improve, along with operational independence.",
    "Expedite timely and consistent implementation of Solvency II to reduce potential sector vulnerabilities.",
    "Ensure robust assessment and approval processes for internal models to determine adequacy of capital levels and support solvency.",
    "Strengthen information access across authorities for monitoring, trend analysis, and systemic risk prevention.",
    "Enhance operational independence of supervisory bodies to improve effectiveness of oversight.",
    "Continue work to operationalize and refine the new European system of financial supervision, including areas reflected in keywords: EIOPA budget planning, EIOPA equivalence assessment, EIOPA measure, EIOPA title III, human resources framework, representation role, ISCR, supervision harmonization effort, and stress testing.",
    "Subject: Financial institutions, Financial sector policy and analysis, Financial sector stability, Insurance, Insurance companies, Solvency, Stress testing",
    "Keywords: CR, EIOPA budget planning, EIOPA equivalence assessment, EIOPA measure, EIOPA title III, Financial sector stability, Global, human resources framework, Insurance, Insurance companies, ISCR, representation role, Solvency, Solvency II, Stress testing, supervision harmonization effort",
    "**_cr1373 — EIOPA Assessment**"
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