Austria : Publication of Financial Sector Assessment Program Documentation—Technical Note on Insurance Sector.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2014/014

IMF Staff Country Reports

Language:

English

Subjects (All):

Finance--Developing countries--Evaluation.

Finance.

International finance.

Physical Description:

1 online resource (18 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2014.

Language Note:

English

Summary:

This Technical Note provides an update on the Austrian insurance industry and an analysis of its regulatory and supervisory regime. The structure of the domestic insurance sector has remained largely stable since the last update. At Q3-2012 there were 50 insurance companies with assets of €108 billion, making up nearly 40 percent of GDP. Although insurance portfolios are largely concentrated in high-quality bonds, they have significant exposure to European banks. Most insurance companies in Austria appear well capitalized under the Solvency I regime. The industry remains profitable though margins have come under some pressure recently.

Contents:

Cover; CONTENTS; Glossary; INTRODUCTION; OVERVIEW OF THE AUSTRIAN INSURANCE SECTOR; RISKS FACED BY THE INSURANCE SECTOR; IMPLEMENTATION OF IAIS INSURANCE CORE PRINCIPLES; TABLES; 1. Progress on Key 2007 Recommendations; A. Conditions for Effective Insurance Supervision; B. The Supervisory System; C. The Supervised Entity; D. Ongoing Supervision; E. Prudential Requirements; F. Markets and Consumers; G. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT); CONCLUSIONS; 2. Financial Soundness Indicators for the Insurance Industry

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed March 7, 2014).

ISBN:

9781475548006

1475548001

9781484376171

148437617X

9781484376201

148437620X

OCLC:

871225419