BaFin published its priorities on insurance supervision for 2018. The insurance supervisory authority sets its priorities annually for the effective and efficient use of resources, in particular in the interests of risk-oriented supervision.
The priorities for 2018 are as follows:
- Cyber security (for specific insurers)
- How Insurers (standard formula users) deal with the Economic Scenario Generators in measuring the technical provisions under solvency II
- Sustainability in the investment of insurers and pension funds
- Analysis of a possible "search for yield" behavior of pension funds when investing their investments
- Premiums, losses, and loss development in property and casualty insurance
- Claim provisions (for selected property and casualty insurers)
- Evaluation of Regular Supervisory Reporting
Related Link (in German): Press Release
Keywords: Europe, Germany, Insurance, Solvency II, Regular Supervisory Reporting, Cyber Risk, BaFin
Previous ArticleAPRA Issues RRS 710 and RPG 702 on EFS Data Quality Framework
APRA is consulting on the reporting standard for credit risk management (ARS 220.0).
EC published draft of a delegated regulation amending liquidity coverage rules for covered bond issuers.
PRA published Version 2 of the questions and answers (Q&A) on the Branch Return form.
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
ISDA launched the IBOR Fallbacks Supplement and the IBOR Fallbacks Protocol, with both becoming effective on January 25, 2021.
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.