06105oam 22013334 450 991079104930332120230803221257.01-4843-3260-11-4755-2380-71-4843-3262-8(CKB)2550000001276657(EBL)1676593(SSID)ssj0001217739(PQKBManifestationID)11781337(PQKBTitleCode)TC0001217739(PQKBWorkID)11204201(PQKB)10478103(MiAaPQ)EBC1676593(Au-PeEL)EBL1676593(CaPaEBR)ebr10861171(CaONFJC)MIL598658(OCoLC)878263385(IMF)1CANEE2014010(IMF)1CANEA2014010(EXLCZ)99255000000127665720020129d2014 uf 0engurcnu||||||||txtccrCanada : Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of ObservanceWashington, D.C. :International Monetary Fund,2014.1 online resource (148 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4755-2365-3 1-306-67407-7 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 FRIs8. 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 ICPsThis 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.IMF Staff Country Reports; Country Report ;No. 2014/072Economic developmentCanadaFinanceDeveloping countriesEvaluationInternational financeCanadaBanks and BankingimfInsuranceimfPublic FinanceimfIndustries: Financial ServicesimfCorporate GovernanceimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfInsurance CompaniesimfActuarial StudiesimfCorporate Finance and Governance: Government Policy and RegulationimfTaxation, Subsidies, and Revenue: GeneralimfFinancial Institutions and Services: Government Policy and RegulationimfFinanceimfInsurance & actuarial studiesimfCorporate governanceimfrole & responsibilities of boards & directorsimfPublic finance & taxationimfFinancial services law & regulationimfInsurance companiesimfLegal support in revenue administrationimfCapital adequacy requirementsimfFinancial institutionsimfEconomic sectorsimfRevenue administrationimfFinancial regulation and supervisionimfRevenueimfAsset requirementsimfCanadaimfEconomic developmentFinanceEvaluation.International financeBanks and BankingInsurancePublic FinanceIndustries: Financial ServicesCorporate GovernancePension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsInsurance CompaniesActuarial StudiesCorporate Finance and Governance: Government Policy and RegulationTaxation, Subsidies, and Revenue: GeneralFinancial Institutions and Services: Government Policy and RegulationFinanceInsurance & actuarial studiesCorporate governancerole & responsibilities of boards & directorsPublic finance & taxationFinancial services law & regulationInsurance companiesLegal support in revenue administrationCapital adequacy requirementsFinancial institutionsEconomic sectorsRevenue administrationFinancial regulation and supervisionRevenueAsset requirements338.9International Monetary Fund.Monetary and Capital Markets Department,DcWaIMFBOOK9910791049303321Canada179841UNINA