South Africa: Detailed Assessment of Observance on the International Association of Insurance Supervisors' Insurance Core Principles

December 8, 2010

Preview Citation

Format: Chicago

South Africa: Detailed Assessment of Observance on the International Association of Insurance Supervisors' Insurance Core Principles, (USA: International Monetary Fund, 2010) accessed November 25, 2024

Summary

Insurance regulation in South Africa is sound and takes a thorough approach to regulation, recognizes the scale and development of the market, and the need for effective market conduct as prudential regulation. There are particular challenges in improving standards of market conduct, in both long-term and short-term insurance. The Financial Services Board is appropriately taking the long view, and is committing itself to major overhauls both of financial requirements and on market conduct. It will require increased resources, including specialist skills, to make these projects a success.

Subject: Capital adequacy requirements, Financial institutions, Financial regulation and supervision, Financial services, Insurance, Insurance companies, Labor

Keywords: Africa, Capital adequacy requirements, Corporate governance, CR, Criteria FSB, Financial crisis, FSB Board notice, FSB issues media, FSB power, FSB staff, FSB supervision work, FSB supervisor, Insurance, Insurance companies, Insurance group, Insurance legislation, ISCR, Risk assessment, Risk management, Southern Africa, Supervision work

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/354
Stock No:

1ZAFEA2010005
ISBN:

9781455212750
ISSN:

1934-7685

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