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Spain: Financial Sector Assessment Program: Detailed Assessment of Observance of the IAIS Insurance Core Principles
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2006: Issue 219
Language:
English
Publication Date:
14 Jun 2006
DOI:
https://doi.org/10.5089/9781451812213.002
ISBN:
9781451812213
ISSN:
1934-7685
Pages:
34
Keywords:
ISCR; CR; supervisory authority; board of directors; nonlife insurance business; insurance market; life insurer; insurance supervision; Insurance companies; Insurance; Insurance supervision; Internal controls; Insurance Core Principles; Europe; Global
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This paper presents a detailed assessment of the observance of the Insurance Core Principles (ICP) of the International Association of Insurance Supervisors (IAIS) in Spain. The IMF, for their assessment, consulted the review of a self-assessment prepared by the General Directorate of Insurance and Pension Funds (DGSFP), comments from Private Insurance Organization and Supervision Law (LOSSP) and other secondary regulations on the insurance activity, and notes and presentations on several regulatory and supervisory issues. Also, discusses the recommended action plan and authorities’ response to the assessment.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund