{
  "title": "Germany: Financial Sector Assessment Program-Insurance Sector Supervision-Technical Notes",
  "publication": "IMF Staff Country Reports, June 29, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016",
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  "summary": "This paper provides an update on the German insurance sector and an analysis of certain key aspects of the regulatory and supervisory regime.",
  "sections": [
    {
      "heading": "Overview and Purpose",
      "content": "- Provides an update on the German insurance sector and an analysis of certain key aspects of the regulatory and supervisory regime.\n- Includes an analysis of German practice in relation to selected Insurance Core Principles within a broader discussion of key issues in regulation and supervision.\n- Focuses mainly on recent developments in the sector and key vulnerabilities, including:\n  - life insurance issues;\n  - vulnerabilities associated with the continuing low interest rate environment;\n  - preparations of the authorities and industry for implementation of the Solvency II requirements;\n  - supervisory approach to large insurance groups."
    },
    {
      "heading": "Key Findings and Areas of Analysis",
      "content": "- Life insurance issues are a central vulnerability identified in the German insurance sector.\n- The continuing low interest rate environment is a significant source of sectoral vulnerability.\n- Preparations for implementation of Solvency II requirements are a major focus for both authorities and industry.\n- Supervisory approach to large insurance groups, including group-level oversight, is examined.\n- German practice is evaluated against selected Insurance Core Principles to highlight strengths and areas for improvement."
    },
    {
      "heading": "Subjects and Keywords (as listed)",
      "content": "- Subjects:\n  - Accounting standards\n  - Financial institutions\n  - Financial sector policy and analysis\n  - Global systemically important insurers\n  - Insurance\n  - Insurance companies\n  - Public financial management (PFM)\n  - Solvency\n- Keywords:\n  - a number of company\n  - Accounting standards\n  - approach to group supervision\n  - business organization\n  - companies' position\n  - company level\n  - CR\n  - fixed income\n  - Global\n  - Global systemically important insurers\n  - Insurance\n  - Insurance companies\n  - insurance group\n  - ISCR\n  - parent company\n  - reinsurance company\n  - risk assessment\n  - Solvency\n  - Solvency II\n  - Solvency II implementation\n  - Solvency II requirement\n  - Solvency II SCR\n  - supervisory view\n  - ZZR requirement\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016/index.md)",
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    "Published: June 29, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498323710.002",
    "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 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:",
    "Keywords:",
    "**Executive Summary**"
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