Denmark:Financial Sector Assessment Program-Technical Note-Insurance Regulation and Supervision

Financial Sector Assessment Program-Technical Note-Insurance Regulation and Supervision

Volume/Issue: Volume 2020 Issue 252

Publication date: August 2020

ISBN: 9781513553023

$18.00

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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.

Finance , Public Finance , Business and Financial , ISCR , CR , risk assessment , business intelligence tool , insurance undertaking , DFSA plan , DFSA data , DFSA staff , DFSA supervision , insurance sector , insurance supervisor , covered bond , Insurance companies , Insurance , Solvency , Pension spending , Insurance supervision , Global

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Summary

Denmark’s insurance sector is highly developed with a particularly high penetration and density in the life sector. Traditionally, work-related life insurance and pension savings are offered as a combined package, and life insurance companies dominate the market for mandatory pension schemes for employees. The high penetration explains the overall size of the insurance sector, which exceeds those of peers from other Nordic countries and various other EU member states. Assets managed by the insurance industry amounted to 146 percent of the GDP at end-2018, compared to 72 percent for the EU average.