The IAIS Multilateral Memorandum of Understanding: An Important Tool for Cooperation and Information Exchange between Insurance Supervisors

Peter Braumüller and Alexander Warzilek

Chapter Chapter 12 in Global Perspectives on Insurance Today, 2010, pp 153-160 from Palgrave Macmillan

Abstract: Abstract The insurance business has become more international in nature over recent decades, with many insurance entities expanding their national activities into international markets—through branches, subsidiaries, joint ventures, cooperation agreements with local insurers, or direct cross-border selling of insurance policies. Furthermore, political changes, trade liberalization, privatization, the establishment of integrated market structures, technological developments, increased need for underwriting capacity for large risks, and demand for reinsurance capacity outside the insurer’s home jurisdiction have created new opportunities. Fiercer competition has also resulted in cross-border mergers of insurance companies. Against this background, there are a significant number of internationally active insurers, as well as insurance groups and financial conglomerates.1

Keywords: Confidential Information; Legitimate Interest; Financial Conglomerate; Local Insurer; Professional Secrecy (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11737-2_12

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DOI: 10.1057/9780230117372_12

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