05575oam 22011414 450 991080877080332120230807210140.01-4983-2773-7(CKB)2670000000608531(EBL)2008601(SSID)ssj0001540352(PQKBManifestationID)12012798(PQKBTitleCode)TC0001540352(PQKBWorkID)11533760(PQKB)11668761(MiAaPQ)EBC2008601(Au-PeEL)EBL2008601(CaPaEBR)ebr11041895(CaONFJC)MIL763479(OCoLC)907299656(IMF)1ZAFEA2015006(EXLCZ)99267000000060853120020129d2015 uf 0engurcnu||||||||txtccrSouth Africa : Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core PrinciplesWashington, D.C. :International Monetary Fund,2015.1 online resource (138 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4983-6445-4 1-4983-8963-5 Cover; CONTENTS; GLOSSARY; 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-Licensed Insurers; 2. Main Activities of Insurance Groups; 3. Composition of Assets-Long-term (Life); 4. Trend in Technical Provisions-Long-term; 5. Solvency: Assets Available Over Required; 6. Free Assets to Capital Adequacy Requirement; 7. Performance Indicators for Short-term InsurersD. Preconditions for Effective Insurance Supervision E. Recommendations and Authorities' Response; 8. Summary of Compliance with the ICPs; 9. Summary of Observance Level; 10. Recommendations to Improve Observance of the ICPs; DETAILED ASSESSMENT; 11. Detailed Assessment of Observance of the ICPs; APPENDIX; I. Status of Implementation of 2010 FSAP RecommendationsThis paper discusses key findings of the Detailed Assessment of Observance on the Insurance Core Principles on South Africa. Insurance regulatory and supervisory regime in South Africa is in transition. Currently, the Financial Services Board (FSB-SA) regulates the nonbanking financial services industry, including the insurance sector, in South Africa. With the goal of achieving a safer financial sector to serve South Africa better, the government has proposed major changes in the financial sector. The four policy objectives are: financial stability, consumer protection and market conduct, financial inclusion, and combating financial crime. Market realities in the insurance sector pose significant regulatory challenges, which are well recognized by the authorities.IMF Staff Country Reports; Country Report ;No. 2015/056InsuranceSouth AfricaInsuranceState supervisionSouth AfricaInsuranceSouth AfricaRules and practiceEvaluationInsurance lawSouth AfricaInsuranceimfIndustries: Financial ServicesimfBusiness and FinancialimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfInsurance CompaniesimfActuarial StudiesimfGeneral Financial Markets: Government Policy and RegulationimfFinancial Institutions and Services: Government Policy and RegulationimfFinanceimfInsurance & actuarial studiesimfFinancial services law & regulationimfInsurance companiesimfFinancial servicesimfFinancial regulation and supervisionimfInsurance supervisionimfFinancial institutionsimfFinancial services industryimfLaw and legislationimfNonbank financial institutionsimfSouth AfricaimfInsuranceInsuranceState supervisionInsuranceRules and practiceInsurance lawInsuranceIndustries: Financial ServicesBusiness and FinancialPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsInsurance CompaniesActuarial StudiesGeneral Financial Markets: Government Policy and RegulationFinancial Institutions and Services: Government Policy and RegulationFinanceInsurance & actuarial studiesFinancial services law & regulationInsurance companiesFinancial servicesFinancial regulation and supervisionInsurance supervisionFinancial institutionsFinancial services industryLaw and legislationNonbank financial institutions332.152DcWaIMFBOOK9910808770803321South Africa172791UNINA