Over the last few decades, financial system regulation has been subject to a continuous process of adjustment, the common denominator of which has been the move towards risk-based schemes. Based on the analysis of the characteristic regulatory frameworks in various regions of the world (United States, Latin America, Asia-Pacific and the European Union), as well as global initiatives in this field, the study analyzes the prudential regulations applicable to insurance entities and their groups since the last assessment made in the version published by MAPFRE Economics in 2018, in order to incorporate the progress made since then in the move towards risk-based regulation. Also, from a public policy perspective, the report elaborates on the set of institutional and market preconditions that it is desirable to meet in order to achieve further progress in the implementation of risk-based regulations in the insurance sector.
Insurance