Switzerland: Financial Sector Assessment Program: Technical Note: Insurance Sector Stress Testing

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 201

Publication date: June 2007

ISBN: 9781451807363

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , ISCR , CR , insurer , life insurer , interest rate , market , health insurer , term mismatch risk , B , market risk consideration , scenario testing , market turbulence , Insurance companies , Market risk , Insurance , Stress testing , Stock markets , Global

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Summary

This technical note discusses key findings of the insurance sector stress tests for Switzerland. The results suggest that there are market risks inside some Swiss insurance entities that may need focused attention. In particular, a moderate correction in share and property values, with interest rates ending somewhat lower than the prior cyclical lows, could cause distress to five out of nine life insurers, two of 12 nonlife insurers, and two of nine health insurers that participated in the 2006 Swiss Solvency Test (SST) field tests.