International Monetary FundWorld Bank2014-01-302014-01-302013-03https://hdl.handle.net/10986/16745This is a full assessment of the insurance regulatory and supervisory system in Mexico, to ascertain its compliance with the IAIS core principles, as a part of the Financial Sector Assessment Program (FSAP) in September 2011. This assessment was produced in the course of a joint International Monetary Fund (IMF), World Bank mission in Mexico to conduct an update of the IAIS principles under the FSAP. The recommendations after conclusion of the assessment include developing and implementing a comprehensive plan to increase insurance penetration; ensuring the operational independence and continuity of the Insurance and Surety National Commission (CNSF); confirming that the supervisory authority has full discretion on resource allocation, in accordance to its mandate, objectives, and the perceived risks; establishing an implementation plan on the solvency regime; and revisiting the arbitration mechanism. This document presents a detailed assessment with regard to the twenty-eight IAIS principles, examining the system in context of each principle.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING RULESACCOUNTING STANDARDSACTUARIESANNUITIESANNUITYARBITRATIONASSET LIABILITY MATCHINGASSET QUALITYAUDIT COMMITTEEAUDITORSAUDITSBENEFICIARIESBROKERBROKERSBUSINESS REGULATIONBUSINESS RISKSCAPITAL ADEQUACYCAPITAL BASECAPITAL MARKETSCAPITAL RATIOSCAPITAL REQUIREMENTCATASTROPHESCATASTROPHIC RISKSCHECKSCODE OF CONDUCTCOLLATERALCOMPENSATIONCOMPETITIVE MARKETCOMPETITIVENESSCOMPULSORY INSURANCECONFLICT OF INTERESTSCONSUMER PRICE INDEXCONSUMER PROTECTIONCONSUMERSCONTINGENCY PLANSCONTRACT LAWCORPORATE DEBTCORPORATE GOVERNANCECOVERAGECREDIBILITYCREDIT INSURANCECREDITWORTHINESSCURRENCYDEBT SECURITIESDEBTORSDEMOGRAPHICDEPOSITDEPOSIT INSURANCEDERIVATIVESDIRECT ACCESSDOMESTIC CURRENCYDUE DILIGENCEEQUITIESEQUITY FUNDEQUITY INVESTMENTEXPENDITUREEXPENSE RATIOEXPORTERSEXPOSUREFINANCIAL CRISESFINANCIAL CRISISFINANCIAL INFORMATIONFINANCIAL INSTRUMENTSFINANCIAL SAVINGSFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SHOCKSFINANCIAL STABILITYFINANCIAL STATEMENTSFOREIGN CAPITALFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN FINANCINGFOREIGN INVESTMENTFRAUDFREE TRADEFREE TRADE AGREEMENTGLOBAL INSURANCEGOVERNANCE PROCEDURESGOVERNMENT BONDSGOVERNMENT PAPERGROWTH RATEGUARANTEE FUNDHEALTH INSURANCEHOLDINGHOLDING COMPANIESHOME COUNTRYHUMAN RESOURCESINCOME TAXINFLATIONINFLATION INDEXINFORMATION DISCLOSUREINFORMATION SHARINGINFORMATION SYSTEMINSPECTIONSINSTRUMENTINSURANCEINSURANCE ACTIVITYINSURANCE AGENTSINSURANCE COMPANIESINSURANCE COMPANYINSURANCE GROWTHINSURANCE INDUSTRYINSURANCE LAWINSURANCE MARKETINSURANCE PENETRATIONINSURANCE POLICIESINSURANCE POLICYINSURANCE PREMIUMINSURANCE PRODUCTSINSURANCE SUPERVISIONINSURANCE SUPERVISORSINSURERINSURERSINTEGRATED SUPERVISIONINTEREST RATEINTEREST RATESINTERNAL CONTROLINTERNAL CONTROLSINTERNATIONAL BEST PRACTICEINTERNATIONAL DEVELOPMENTSINTERNATIONAL SECURITIESINTERNATIONAL STANDARDSINTERNATIONAL SWAPINVESTINGINVESTMENT FUNDSINVESTMENT IN GOVERNMENT SECURITIESINVESTMENT INCOMEINVESTMENT POLICYINVESTMENT REGIMEINVESTMENT STRATEGYJUDICIAL SYSTEMJURISDICTIONJURISDICTIONSLEGAL PROVISIONSLIABILITYLIABILITY INSURANCELIBERALIZATIONLIFE INSURANCELIFE INSURANCE PREMIUMLIFE INSURERSLIQUID ASSETSLIQUIDATIONLIQUIDATIONSLIQUIDITYMANDATORY INVESTMENTMARKET BEHAVIORMARKET CONDITIONSMARKET DEMANDMARKET PARTICIPANTSMARKET RISKMARKET SHAREMARKET SIZEMATURITYMICRO-INSURANCEMICROINSURANCEMINIMUM CAPITAL REQUIREMENTSMONETARY FUNDMONEY LAUNDERINGMORTGAGEMORTGAGE INSURANCEMOTOR INSURANCEMUTUAL FUNDSNATIONAL SAVINGSNATURAL DISASTERNONPERFORMING LOANSOPERATIONAL INDEPENDENCEOUTSOURCINGOWNERSHIP STRUCTUREPENSIONPENSION FUNDPENSION FUNDSPENSION SYSTEMPENSIONSPORTFOLIOPORTFOLIOSPRICE CHANGEPRIVATE DEBTPRIVATE EQUITYPRIVATE INSURANCEPRIVATE SECTOR DEVELOPMENTPROGRAMSPROTECTION OF POLICYHOLDERSPRUDENTIAL REGULATIONQUOTATION SYSTEMRATE OF GROWTHREAL ESTATEREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREGULATORY REQUIREMENTSREINSURANCEREINSURANCE COMPANIESREINSURERSREPUTATIONRESERVERESERVESRETIREMENT SAVINGSRETURNRETURN ON ASSETSRETURNSRISK MANAGEMENTSAVINGS ACCOUNTSECURITIESSECURITIES LAWSSECURITIES MARKETSEGREGATION OF DUTIESSOCIAL SECURITYSOLVENCYSOLVENCY REQUIREMENTSSTOCK EXCHANGESTOCK OPTIONSSUPERVISORY AUTHORITYSUPERVISORY FRAMEWORKSUPERVISORY SYSTEMSURETIESSURETYSYSTEMIC RISKSTAXTECHNICAL ASSISTANCETERRORISMTRACK RECORDTRADE ASSOCIATIONSTRANSPARENCYTREATIESTREATYUNDERWRITINGVALUATIONWITHDRAWALWorld Bank10.1596/16745