Ireland: Financial Sector Assessment Program: Technical Note-Insurance Sector and Update on the Assessment of Observance of the Insurance Core Principles

IMF Staff Country Reports, September 29, 2016

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Canonical URL: Ireland: Financial Sector Assessment Program: Technical Note-Insurance Sector and Update on the Assessment of Observance of the Insurance Core Principles

The Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Ireland’s insurance sector.
Insurance in Ireland is described as well developed, diverse, and having a large international business presence.
Insurance penetration in Ireland is almost three times the EU average.
Solvency II is now the solvency regime in Ireland.
Many recommendations from the FSAP have been implemented by the central bank.

A total of 51 Supervisory Review Process guidance papers have been prepared setting out the central bank’s internal supervisory processes and procedures under Solvency II with reference to the technical standards and guidelines and the central bank’s prioritization framework.
Forty-seven of these guidance papers were complete as of the end of 2015.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Solvency, Stress testing
Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), conduct risk, corporate governance, cost of capital, CR, Europe, Global, Group firm, group level, Group supervision, holding company, IMF finding, Insurance, Insurance companies, ISCR, manage Central Bank risk, nonlife company, return on equity, risk assessment, risk management, Solvency, Solvency II, Stress testing, variable annuity

IMF Technical Note _cr16311 — Insurance Sector
- IMF Technical Note _cr16311 — Insurance Sector (Markdown version)
- IMF Technical Note _cr16311 — Insurance Sector (PDF)