Brazil: Detailed Assessment of Observance of Insurance Core Principles of the International Association of Insurance Supervisors

International Monetary Fund

No 2012/334, IMF Staff Country Reports from International Monetary Fund

Abstract: This report is a full assessment of Brazil’s compliance with the Insurance Core Principles (ICPs) of the International Association of Insurance Supervisors (IAIS) as adopted in October 2011. In the last few years, the Brazilian insurance industry experienced an explosive growth doubling the premium between 2005 and 2010. Investments by the insurance sector are conservative and short term, and primarily comprised of fixed income instruments. Profitability levels of the insurance sector have been consistent and the solvency ratio of the insurance industry has been strong. Other financial indicators of the insurance sector also suggest resilience.

Keywords: ISCR; CR; risk management; investment funds; corporate governance; financial market; SUSEP decision; insurance sector; liability insurance; nonlife insurance market; SUSEPS work; credit risk; health insurance; solvency margin ratio; insurance business; business plan; Insurance companies; Insurance; Internal controls; Solvency; Insurance supervision; Caribbean (search for similar items in EconPapers)
Pages: 75
Date: 2012-12-14
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