France: Financial Sector Assessment Program—Detailed Assessment of Observance of Insurance Core Principles

International Monetary Fund

No 2013/181, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Detailed Assessment of Observance of Insurance Core Principles for France. The assessment reveals that insurance regulation and supervision are still predominantly carried out using a Solvency I approach. The insurance sector remained resilient through the recent global financial crisis. A thorough approach to assessing insurer technical provisions and their coverage by admissible assets has led to financially sound insurers. Individual French insurance companies have not needed any government or industry support.

Keywords: ISCR; CR; risk management; financial crisis; Société Générale; Solvency II; discount rate; internal audit; senior management; solvency report; insurance group; insurance undertaking; insurance supervision; Insurance companies; Insurance; Solvency; Insurance supervision; Internal controls; Europe; Global (search for similar items in EconPapers)
Pages: 67
Date: 2013-07-01
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