## Germany: Financial Sector Assessment Program Technical Note—Insurance Regulation And Supervision

_IMF Staff Country Reports, August 3, 2022_

## Source details

**Canonical URL:** [Germany: Financial Sector Assessment Program Technical Note—Insurance Regulation And Supervision](https://www.imf.org/en/publications/cr/issues/2022/08/02/germany-financial-sector-assessment-program-technical-note-insurance-regulation-and-521676)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/08/02/germany-financial-sector-assessment-program-technical-note-insurance-regulation-and-521676/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/08/02/germany-financial-sector-assessment-program-technical-note-insurance-regulation-and-521676/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/08/02/germany-financial-sector-assessment-program-technical-note-insurance-regulation-and-521676/bundle-manifest.json)

## Bibliographic details
- Published: August 3, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400217654.002

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### Overview
- The Financial Sector Assessment Program (FSAP) conducted a focused review of insurance regulation and supervision in Germany.
- This technical note (TN) provides an update on the insurance sector and highlights risks and vulnerabilities.
- The analysis focuses on supervision within the scope of the Federal Financial Supervisory Authority (BaFin)’s mandate.
- The TN comments on progress in respect of the implementation of recommendations made by the previous FSAP and offers further recommendations to strengthen the regulatory and supervisory regime.
- Publication date: August 3, 2022.

### Key aspects analyzed
- Supervisory powers, independence, and resources.
- The solvency framework.
- Supervision.
- Changes of control and resolution.

### Findings related to BaFin and oversight
- BaFin is the federal German insurance supervisor.
- BaFin is subject to oversight by the Federal Ministry of Finance (MoF), which is accountable to the Federal Parliament.
- The TN highlights risks and vulnerabilities in the insurance sector and discusses progress on prior FSAP recommendations (specific progress details are within the full TN).

### Policy recommendations and supervisory priorities
- The TN offers further recommendations to strengthen the regulatory and supervisory regime (specific recommendations are contained within the full TN).
- Priority areas implicitly emphasized by the TN’s analytical focus:
  - Enhancing supervisory powers, independence, and resources.
  - Strengthening the solvency framework.
  - Improving supervisory practice and oversight.
  - Clarifying and enhancing arrangements for changes of control and resolution.

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## Content in this bundle

- **Technical Note — Germany: Insurance Sector**
  - [Technical Note — Germany: Insurance Sector (Markdown version)](/-/media/files/publications/cr/2022/english/1deuea2022006.pdf.md){rel="alternate" type="text/markdown"}
  - [Technical Note — Germany: Insurance Sector (PDF)](/-/media/files/publications/cr/2022/english/1deuea2022006.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2022/08/02/germany-financial-sector-assessment-program-technical-note-insurance-regulation-and-521676_