The visit of the International Monetary Fund in the context of the Financial Sector Assessment Program (FSAP)

Category

Other

Description

The International Monetary Fund publishes the results of the periodic assessment carried out at IVASS in 2019 on the Italian insurance sector regulation and supervision. The previous assessment of the Fund dated back to 2013.

The visit of the Fund was preceded by the submission of information and data and was organised through in a series of meetings with IVASS’ departments and other insurance market participants.

At the end of the visit, the Fund drew up a detailed "Technical note on Insurance Sector Regulation and Supervision”, which contained an assessment of the regulatory framework and supervisory practices of the Italian insurance sector, and provided feedback and recommendations.

The Fund acknowledged the progress made by IVASS in regulation and supervision compared to the visit of 2013 and recognised that IVASS developed a supervisory framework fully in line with Solvency II and with the Insurance Core Principle (ICP), issued by the IAIS.

issue date

4 August 2020