ENGLISH

How the Financial Crisis Affects Pensions and Insurance and Why the Impacts Matter

By Ian Tower; Gregorio Impavido

Book information

Publisher
International Monetary Fund
Year
2009
ISBN
9781451917277, 9781451872989
LCC
HB3722 -- .I473 2009eb
Language
english
Format
EPUB
Filesize
1 MB (1449231 bytes)
Series
IMF Working Papers
Edition
1
Pages
58\0
Time added
2023-08-06 04:19:01
2008-2009. ; Pensions. ; Insurance.Global Financial Crisis

Description

This paper discusses the key sources of vulnerabilities for pension plans and insurance companies in light of the global financial crisis of 2008. It also discusses how these institutional investors transit shocks to the rest of the financial sector and economy. The crisis has re-ignited the policy debate on key issues such as: 1) the need for countercyclical funding and solvency rules; 2) the tradeoffs implied in marked based valuation rules; 3) the need to protect contributors towards retirement from excessive market volatility; 4) the need to strengthen group supervision for large complex financial institutions including insurance and pensions; and 5) the need to revisit the resolution and crisis management framework for insurance and pensions.

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