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Business and Economics > Insurance

You are looking at 1 - 7 of 7 items for :

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Cover IMF Staff Country Reports
Denmark: Financial Sector Assessment Program-Technical Note-Insurance Regulation and Supervision
International Monetary Fund. Monetary and Capital Markets Department
Denmark’s insurance sector is highly developed with a particularly high penetration and density in the life sector. Traditionally, work-related life insurance and pension savings are offered as a combined package, and life insurance companies dominate the market for mandatory pension schemes for employees. The high penetration explains the overall size of the insurance sector, which exceeds those of peers from other Nordic countries and various other EU member states. Assets managed by the insurance industry amounted to 146 percent of the GDP at end-2018, compared to 72 percent for the EU average.
Keywords:
ISCR; CR; risk assessment; business intelligence tool; insurance undertaking; DFSA plan; DFSA data; DFSA staff; DFSA supervision; insurance sector; insurance supervisor; covered bond; Insurance companies; Insurance; Solvency; Pension spending; Insurance supervision; Global
Cover IMF Staff Country Reports
Denmark: Financial Sector Assessment Program: Technical Note: Pensions with Profit Contracts
International Monetary Fund
This technical note examines pensions with profit contracts in Denmark. The Danish life insurance and pension sector is sensitive to a range of risks on both the asset and liability side of the balance sheet. One of the principal vulnerabilities for the sector arises out of the requirement to achieve a high guaranteed return for the duration of “in-force” policies. Although several measures have been implemented to increase provisions and capital, and for hedging interest rate risk through derivatives, the overall risk in the pension sector still needs to be closely monitored.
Keywords:
ISCR; CR; yield; return on equity; market yield; guarantied yield; return option; interest rate exposure; investment return; yield environment; guarantee level; net interest rate sensitivity; Insurance; Insurance companies; Pension spending; Pensions; Return on investment; Europe
Cover IMF Staff Country Reports
Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Insurance Core Principles
International Monetary Fund
This paper discusses key findings of the Detailed Assessment of the Observance of the Insurance Core Principles for Denmark. Key recommendations arising from the assessment cover two main issues. First is the fact that the Danish Financial Supervisory Authority Finanstilsynet bases its system to assess the appropriateness of key functions on the assumption that it is the core responsibility of the senior management to ensure adequate personnel to be assigned to relevant tasks in the supervised companies. The second issue relates to a requirement that internal audit functions should be made compulsory for smaller companies.
Keywords:
ISCR; CR; holding company; company pension funds; board of directors; risk assessment; return on equity; pension funds; interest rate; supervisory authority; Insurance companies; Insurance; Pension spending; Pensions; Money laundering; Europe
Cover IMF Staff Country Reports
Denmark: Financial System Stability Assessment, including Reports on Observance of Standards and Codes on the following topics, Banking Supervision, Insurance Supervision, Systematically Important Payment
International Monetary Fund
The Financial System Stability Assessment of Denmark has been developed to identify the weakness in the financial sector structure and thereby enhance the resilience to macroeconomic shocks and cross-border contagion. This paper provides the overall stability assessment of the financial system and the autonomy and accountability of the Danish Financial Supervisory Authority (DFSA). It reviews the macroeconomic setting, financial structure and risks. The study also analyzes the financial markets, their structure and safety nets, and assesses financial supervision, standard assessments, and key recommendations to improve the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CLT) system.
Keywords:
ISCR; CR; bank; mortgage; adjustable rate; mortgage bond; return; bond market; commercial bank; return on equity; credit system; variable rate mortgage; Stock markets; Mortgages; Loans; Pension spending; Insurance; Global
Cover Officially Supported Export Credits in a Changing World
Officially Supported Export Credits in a Changing World
Mr. Jian-Ye Wang
,
Mr. Yo Kikuchi
,
Mr. Sidhartha Choudhury
, and
Mr. Mario Mansilla

Abstract

This paper assesses the issues of government involvement in international trade finance stemming from the recent changes in global financial markets. This study is based on discussions with representatives of export credit agencies during the period from October 2003 to May 2004. A survey of 27 agencies provided valuable insights. Financial flows facilitated by official export credit agencies are large in comparison with official development assistance and gross lending by international financial institutions to developing countries. However, the importance of officially supported trade finance has been declining relative to the rapid expansion of world trade and total capital flows to developing countries. The study highlights the key challenges facing official export credit agencies, including complementing the private sector, facilitating financing to low-income countries while helping maintain these countries’ debt sustainability, and playing a positive role in the area of trade finance in international efforts to address emerging market financial crises.

Keywords:
WEFS; financing; trade; market; trade finance provider; export credit agency; OECD arrangement; trade finance advantage; export credit business; Export credits; Trade finance; Exports; Credit; Emerging and frontier financial markets; Africa; Global; Central and Eastern Europe; Sub-Saharan Africa; Europe; Insurance; Asia and Pacific
Cover IMF Staff Country Reports
Sweden: Selected Issues
International Monetary Fund
The Selected Issues paper analyzes tax policy trends at the local level in Sweden and assesses the effectiveness of the vertical fiscal policy coordination system. The study reviews Sweden’s local public finances from an international perspective and empirically explores various explanations for the gradual increase in local tax rates. It discusses long-term challenges for local public finances and aggregate fiscal policy coordination. The design of vertical fiscal policy coordination in other countries is described. The paper also examines the Swedish experience of work absence in a European context.
Keywords:
ISCR; CR; sickness absence; absence rate; insurance system; replacement rate; cash benefit; Länder government; tax burden; income tax; Aging; Europe; Western Europe; Global
Cover IMF Staff Country Reports
Kingdom of the Netherlands-Netherlands: Selected Issues
International Monetary Fund
This Selected Issues paper highlights that over the past decade, the Netherlands has undergone a remarkable fiscal adjustment, with the deficit, the tax burden, and the expenditure-to-GDP ratio falling significantly. The switch from a deficit-target-based to an expenditure-target-based fiscal framework in 1994 and commitments to two successive four-year fiscal plans have played an important role. The current multiyear framework expires in 2002, and the Study Group on the Budgetary Margin has produced recommendations for the coming government period.
Keywords:
ISCR; CR; minimum wage; central government; income support; purchasing power; SER proposal; sick leave; Kingdom of the Netherlands-Netherlands; break-even wage; CPB simulation; GDP deflator; work contract; expenditure ceiling; high'skill worker; wage supplement; SER report; Income; Wages; Health care; Insurance