ICP 24 Macroprudential Supervision

The supervisor identifies, monitors and analyses market and financial developments and other environmental factors that may impact insurers and the insurance sector, uses this information to identify vulnerabilities and address, where necessary, the build-up and transmission of systemic risk at the individual insurer and at the sector-wide level.

Data collection for macroprudential purposes

24.1	The supervisor collects data necessary for its macroprudential supervision.

All guidance

Insurance sector analysis

24.2

The supervisor, as part of its macroprudential supervision, performs analysis of financial markets and the insurance sector that:

is both quantitative and qualitative;
considers historical trends as well as the current risk environment; and
considers both inward and outward risks.

All guidance

Assessing systemic importance

24.3	The supervisor has an established process to assess the potential systemic importance of individual insurers and the insurance sector.

All guidance

Supervisory response

24.4	The supervisor uses the results of its macroprudential supervision, and considers the potential systemic importance of insurers and the insurance sector, when developing and applying supervisory requirements.

All guidance

Transparency

24.5	The supervisor publishes relevant data and statistics on the insurance sector.

All guidance