IMF FSAP evaluation of insurer disclosure regime As I noted earlier, the IMF evaluates the effectiveness of insurance supervision by benchmarking a jurisdiction against the 26 core principles developed by the IAIS. With respect to ICP 20 on Public disclosure, the New Zealand regime was assessed as ‘partly observed’ –reflecting that some gaps exist.
The IMF argued that comparison across insurers is made difficult by accounting standards that allow some management discretion on details to be disclosed, and because branches are allowed to present solvency information using home-jurisdiction methodologies.