Abstract

http://ssrn.com/abstract=2022062
 


 



Systemic Risk in the Insurance Sector: A Review of Current Assessment Approaches


Andreas (Andy) Jobst


International Monetary Fund (IMF) - European Department

April 21, 2014

The Geneva Papers on Risk and Insurance - Issues and Practice (Forthcoming)

Abstract:     
The following article reviews the recent regulatory efforts in defining systemic risk in the insurance sector and the designation of systemically important insurers. Although current evidence suggests that core insurance activities are unlikely to cause or propagate systemic risk, the characteristics and business models of insurance firms vary by country and might require a more nuanced examination, with a particular focus on non-traditional and/or non-insurance (NTNI) activities. The article also includes the assessment of identified vulnerabilities from liquidity risk in the context of the Bermuda market, which provides valuable insights into systemic risk analysis in the domestic context of an insurance market dominated by non-life underwriting.

Number of Pages in PDF File: 34

Keywords: financial crisis, insurance sector, macroprudential, systemic risk, SIFI, G-SII

JEL Classification: G01, G18, G22

Accepted Paper Series





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Date posted: March 15, 2012 ; Last revised: May 16, 2014

Suggested Citation

Jobst, Andreas (Andy), Systemic Risk in the Insurance Sector: A Review of Current Assessment Approaches (April 21, 2014). The Geneva Papers on Risk and Insurance - Issues and Practice (Forthcoming). Available at SSRN: http://ssrn.com/abstract=2022062 or http://dx.doi.org/10.2139/ssrn.2022062

Contact Information

Andreas A. Jobst (Contact Author)
International Monetary Fund (IMF) - European Department ( email )
700 19th Street NW
Washington, DC 20431
United States
+1-202-623-6362 (Phone)
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