## 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](https://www.imf.org/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016/bundle-manifest.json)

## Bibliographic details
- Published: June 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498323710.002

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### 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

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16192.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16192.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/germany-financial-sector-assessment-program-insurance-sector-supervision-technical-notes-44016_