Spain: IAIS Insurance Core Principles: Detailed Assessment of Observance

International Monetary Fund

No 2012/139, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper provides an update on the significant regulatory and supervisory development in the Spanish insurance sector since 2006. The Spanish authorities have taken steps to address a number of shortcomings identified in the 2006 Financial Sector Assessment Program. Most notably, cooperation and coordination among the three sectoral supervisors have improved. The paper reveals that despite the lack of independence in the regulatory structure, there is no evidence to suggest that the General Directorate of Insurance and Pension Funds is not independent in carrying out its duties.

Keywords: ISCR; CR; financial market; risk management; corporate governance; board of directors; internal audit; sales staff; insurance group; business plan; liability insurance; senior management; discount rate; market structure; operating budget; DGSFP staff; management report; Insurance companies; Insurance; Solvency; Internal controls; Legal support in revenue administration; Europe; Global (search for similar items in EconPapers)
Pages: 83
Date: 2012-06-11
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25979 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2012/139

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().