Republic of Poland: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
IMF Staff Country Reports, May 9, 2019
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- Republic of Poland: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
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Bibliographic details
- Published: May 9, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498313209.002
Overview and scope
- Provides an update and an assessment of the development of regulation and supervision of the Polish insurance sector since an assessment concluded in 2012.
- Focuses on key issues, with reference to international standards but without presenting a detailed assessment of Poland’s observance.
- The note covers supervision of intermediaries, Solvency II implementation, life-insurer business composition, emergence of financial conglomerates, and selected other areas of the insurance framework.
Key findings
- Supervision of intermediaries has been strengthened in line with a 2012 Financial Sector Assessment Program recommendation.
- The Solvency II changes appear well-embedded, without significant exemptions or transitional arrangements.
- With limited long-term guarantee business, life insurers have currently no need for the special measures adopted for such business in many EU countries.
- The recent emergence of the first Polish financial conglomerate, which is headed by an insurer, poses supervisory challenges.
- In respect to the selected other areas of the insurance framework that were reviewed, the findings highlighted strengths in the approach, with some scope for further development.
Publication metadata and identifiers
- Publication title: Republic of Poland: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision
- Publication date: May 9, 2019
- Series: Country Report No. 2019/121
- Issue: 121
- Volume: 2019
- Pages: 55
- DOI: https://doi.org/10.5089/9781498313209.002
- Stock No: 1POLEA2019006
- ISBN: 9781498313209
- ISSN: 1934-7685
- Format note: IMF Staff Country Reports
Subjects and keywords
- Subjects: Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Insurance, Insurance companies, Insurance supervision, Solvency
- Keywords: Baltics, business conduct regulation, Central and Eastern Europe, CR, E. insurance conduct, Europe, Financial Sector Assessment Program, Global, group supervision, guarantee scheme, Insurance, Insurance companies, insurance sector, Insurance supervision, ISCR, life insurer, line of business, PFSA staff, PFSA supervision, PFSA supervisor, risk assessment, solo insurer level, Solvency, Solvency II, supervisory work
IMF Staff Country Report: "Republic of Poland: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision", May 9, 2019.
Content in this bundle
- 1polea2019006