European Parliament Library

Austria :, Publication of Financial Sector Assessment Program Documentation—Technical Note on Insurance Sector

Abstract
This Technical Note provides an update on the Austrian insurance industry and an analysis of its regulatory and supervisory regime. The structure of the domestic insurance sector has remained largely stable since the last update. At Q3-2012 there were 50 insurance companies with assets of €108 billion, making up nearly 40 percent of GDP. Although insurance portfolios are largely concentrated in high-quality bonds, they have significant exposure to European banks. Most insurance companies in Austria appear well capitalized under the Solvency I regime. The industry remains profitable though margins have come under some pressure recently
Table Of Contents
Cover; CONTENTS; Glossary; INTRODUCTION; OVERVIEW OF THE AUSTRIAN INSURANCE SECTOR; RISKS FACED BY THE INSURANCE SECTOR; IMPLEMENTATION OF IAIS INSURANCE CORE PRINCIPLES; TABLES; 1. Progress on Key 2007 Recommendations; A. Conditions for Effective Insurance Supervision; B. The Supervisory System; C. The Supervised Entity; D. Ongoing Supervision; E. Prudential Requirements; F. Markets and Consumers; G. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT); CONCLUSIONS; 2. Financial Soundness Indicators for the Insurance Industry
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (18 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9780148437616

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