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240902 ||| eng |
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|a 9798400278846
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| 245 |
0 |
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|a Luxembourg
|b Financial Sector Assessment Program—Technical Note on Insurance Regulation and Supervision
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2024
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a Luxembourg
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| 653 |
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|a Insurance companies
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Pension Funds
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| 653 |
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|a Finance
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a Bankruptcy
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| 653 |
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|a Financial institutions
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| 653 |
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|a Financial Instruments
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| 653 |
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|a General Financial Markets: Government Policy and Regulation
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| 653 |
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|a Debt
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| 653 |
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|a Crime
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| 653 |
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|a Financial Sector Assessment Program
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| 653 |
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|a Illegal Behavior and the Enforcement of Law
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Solvency
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| 653 |
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|a Criminology
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| 653 |
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|a Money laundering
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| 653 |
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|a Liquidation
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| 653 |
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|a White-collar crime
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| 653 |
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|a Financial services industry
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| 653 |
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|a Anti-money laundering and combating the financing of terrorism (AML/CFT)
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| 653 |
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|a Business and Financial
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| 653 |
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|a Actuarial Studies
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| 653 |
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|a Finance: General
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| 653 |
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|a Financial services law & regulation
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| 653 |
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|a Insurance Companies
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| 653 |
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|a Insurance
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| 653 |
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|a Corporate crime
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| 653 |
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|a Insurance & actuarial studies
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| 710 |
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|a International Monetary Fund
|b Monetary and Capital Markets Department
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| 041 |
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|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Staff Country Reports
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| 028 |
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|a 10.5089/9798400278846.002
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| 856 |
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|u https://elibrary.imf.org/view/journals/002/2024/184/002.2024.issue-184-en.xml?cid=550839-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a The insurance sector in Luxembourg is very large and serves as a European hub, specifically in the non-life (re)insurance sector and in unit-linked life insurance. Sector assets equaled EUR 289bn in June 2023, corresponding to 372 percent of GDP, significantly higher than in other European peers, Luxembourg insurance business is conducted mainly cross-border, both in the life and the non-life sector. The sector’s international role has been strengthened further after the Brexit vote when several U.K. insurers resettled to Luxembourg to continue cross-border business in the EEA through the passporting system. Business underwritten for domestic risks represents only 6 percent of the sector’s total technical provisions. Both the life and the non-life sector have undergone some consolidation recently, and most Luxembourgish insurers are subsidiaries of foreign groups
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