Canada : : Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance

• Record Nr.: UNINA9910972080303321
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2014
• ISBN: 9781484332603; 1484332601; 9781475523805; 1475523807; 9781484332627; 1484332628
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (148 p.)
• Collana: IMF Staff Country Reports
• Disciplina: 338.9
• Soggetti: Economic development - Canada; Finance - Developing countries - Evaluation; International finance - Canada; Banks and Banking; Insurance; Public Finance; Industries: Financial Services; Corporate Governance; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors; Insurance Companies; Actuarial Studies; Corporate Finance and Governance: Government Policy and Regulation; Taxation, Subsidies, and Revenue: General; Financial Institutions and Services: Government Policy and Regulation; Finance; Insurance & actuarial studies; Corporate governance; role & responsibilities of boards & directors; Public finance & taxation; Financial services law & regulation; Insurance companies; Legal support in revenue administration; Capital adequacy requirements; Financial institutions; Economic sectors; Revenue administration; Financial regulation and supervision; Revenue; Asset requirements; Role & responsibilities of boards & directors; Canada
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di contenuto: Cover; Contents; Acronyms; EXECUTIVE SUMMARY; ASSESSMENT OF INSURANCE CORE PRINCIPLES; A. Introduction and Scope; B. Information and Methodology Used for Assessment; C. Overview-Institutional and Macroprudential Setting; TABLES; 1. Insurance Market Structure as at end-2012; 2. Composition of Assets-L&H FRIs (Legal Entities); 3. Composition of Assets-P&C FRIs (Legal Entities); 4. Trend in Technical Provisions-L&H FRIs; 5. Trend in Technical Provisions-P&C FRIs; 6. Gross Premiums by Major Lines of Business in 2012-L&H FRIs; 7. Premiums by Major lines of business in 2012-P&C FRIs; 8. Solvency Position of FRIsD. Preconditions for Effective Insurance Supervision; 9. Summary of Compliance with the ICPs; E. Recommendations and Authorities' Response; 10. Summary of Observance Level; 11. Recommendations to Improve Observance of the ICPs; DETAILED ASSESSMENT; 12. Detailed Assessment of Observance of the ICPs
• Sommario/riassunto: This Detailed Assessment report, a part of the 2013 Financial Sector Assessment Program (FSAP) of Canada, assesses Canada’s regulatory regime and supervisory practices against the international standards. The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company. It highlights that while OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets, requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.