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Austria: Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the IAIS Insurance Core Principles
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2008: Issue 207
Language:
English
Publication Date:
02 Jul 2008
DOI:
https://doi.org/10.5089/9781451802467.002
ISBN:
9781451802467
ISSN:
1934-7685
Pages:
12
Keywords:
ISCR; CR; company; FMA insurance supervisor; asset; banking group; FMA staff; supervision; reinsurance company; FMA detail; balance sheet; company's policy; FMA's supervision; Insurance companies; Insurance; Pension spending; Insurance Core Principles; Insurance supervision; Southern Europe
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This technical note highlights Austria’s analysis of the International Association of Insurance Supervisors Insurance Core Principles. The Austrian economy generally performed well over the past several years, with growth above the euro-area average, falling unemployment, and low inflation. The Financial Market Authority (FMA) should investigate the use of market-based soundness indicators. Following the recent reorganization of bank supervision responsibilities, the FMA insurance supervisors will need to work even closer with the Oesterreichische Nationalbank (OeNB) in supervising financial groups.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund