Macroprudential Supervision in Insurance (eBook)

Marek Belka, National Bank of Poland, Poland Philippe Brahin, Swiss Re Corporation, Switzerland Martin Eling, University of St. Gallen, Switzerland Aerdt Houben, De Nederlandsche Bank (DNB), the Netherlands Krzysztof Jajuga, Wroclaw University of Economics, Poland Nadege Jassaud , International Monetary Fund (IMF), France Donato Masciandaro, Bocconi University, Italy Andrew Mawdsley, EIOPA, UK Marek Monkiewicz, Warsaw University, Poland Marcelo Ramella, Bermuda Monetary Authority, Bermuda Paul Sharma, Alvarez & Marsal, UK Piotr Jacek Szpunar, National Bank of Poland, Poland Hanne van Voorden, De Nederlandsche Bank (DNB), the Netherlands Alessio Volpicella, Baffi Centre on International Markets, Money and Regulation, Itlay Rodolfo Wehrhahn, Wehrhahn&Wehrhahn Consulting LLC, USA

Cover 1
Half-Title 2
Title 4
Copyright 5
Contents 6
List of Figures 8
List of Tables 9
Foreword 10
Acknowledgements 16
Notes on Contributors 17
List of Abbreviations 23
Introduction 27
Part I General Issues 44
1 The Dynamics of the Safety Net in Insurance: Trends and Challenges 45
2 Systemic Risk and the Insurance Industry: Principal Linkages and Dependencies 62
3 Insuring the Financial System against Insurers: A Macroprudential Framework 90
4 Insurance and Macroprudential Regulation: Conceptual Issues 109
Part II Policy-Related Issues 125
5 Macroprudential Policy: Rationale and Challenges 126
6 Systemic Risk and Financial Stability in Insurance: Macroprudential Policy Concerns 159
7 How to Align Microprudential and Macroprudential Supervision in Insurance 176
8 Macroprudential Policies: What Toolkit for the Insurance Sector? 183
9 Central Banking, Macroprudential Supervision and Insurance 190
10 The Architecture of Macroprudential Supervision in the EU Regional Model 232
Part III Global Issues 253
11 GSIIs and the Framework for Macroprudential Supervision: Strengthening GSIIs and Reducing the Systemic Risks They Pose 254
12 The Growing Confusion between Group Supervision and Macroprudential Surveillance in Insurance 271
13 The Global Macroprudential Set-Up in Insurance: Who Is in Charge? 285
14 The Misuse of Macroprudential Regulations for Protectionist Purposes: A Real Danger? 301
Index 319