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Macroprudential Solvency Stress Testing of the Insurance Sector
Author:
Andreas Jobst
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Nobuyasu Sugimoto
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Timo Broszeit
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Series:
IMF Working Papers
Volume/Issue:
Volume 2014: Issue 133
Language:
English
Publication Date:
22 Jul 2014
DOI:
https://doi.org/10.5089/9781484346365.001
ISBN:
9781484346365
ISSN:
1018-5941
Pages:
84
Keywords:
WP; capital market; solvency regime; balance sheet; credit risk; cash flow; insurance; macroprudential surveillance; financial stability analysis; stress testing; cost of capital; fixed income; liquidity risk; insurance risk; interest rate shock; private equity; asset risk; risk measurement; Insurance companies; Solvency; Financial Sector Assessment Program; Global; Africa
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Over the last decade, stress testing has become a central aspect of the Fund’s bilateral and multilateral surveillance work. Recently, more emphasis has also been placed on the role of insurance for financial stability analysis. This paper reviews the current state of system-wide solvency stress tests for insurance based on a comparative review of national practices and the experiences from Fund’s FSAP program with the aim of providing practical guidelines for the coherent and consistent implementation of such exercises. The paper also offers recommendations on improving the current insurance stress testing approaches and presentation of results.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund