Insurance and Issues in Financial Soundness
AbstractThis paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 03/138.
Date of creation: 01 Jul 2003
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