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Liberalisation of international insurance operations

Article Abstract:

The liberalization of international insurance operations in OECD countries was investigated through a questionnaire-based survey. Results include the substantial progress in liberalization; that there still exist a number of restrictions; that in several OECD countries, cross-border trade is permitted for all classes of insurance; and that resident proposers in most OECD countries can enter into an insurance contract with an insurer neither established nor authorized in their respective countries, provided it is not possible to cover the risk in their respective countries.

International aspects

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Policy issues in insurance: investment, taxation, insolvency

Article Abstract:

The experiences of OECD countries prove that transition economies have to carefully examine the variables involved in policies in insurance if they are to develop their own regulatory systems. This mandates the weighing of the economic and social roles of insurance in the economy and its impact on the tax system and of measures set up by OECD countries for detecting potential insolvency and, consequently, safeguard the interests of insurance holders. Also, it is imperative that they make an assessment of the limits of investment regulations within the OECD countries.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Insurance Regulation, Laws, regulations and rules, Insurance law

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New financial statistics

Article Abstract:

Institutional investors have emerged as among the biggest holders of financial assets and as significant players in financial markets in OECD countries. According to 1995 statistics, the member states with the highest volume of assets held by institutional investors are the US ($11,870 billion), Japan ($4,000 billion) and the UK ($1,800 billion). As for insurance gross premiums, OECD countries posted a total volume of $2,059.5 billion for the year.

Statistics, Institutional investments

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