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Based on an assessment of the findings of a recent survey conducted by the IAIS, the impact of the current financial market turmoil on the insurance sector seems to have been limited to date, so that the insurance sector as a whole remains stable. However, there are still uncertainties over the extent and development of the market turmoil requiring continued vigilance by insurance sector regulators.
The IAIS is currently working on areas of risk management, valuation, accounting and risk disclosure, prudential regulation of insurers, group-wide supervision and re-insurance supervision. Facilitating the exchange of information between insurance supervisors and publishing the global re-insurance market report are additional on-going actions being taken by the IAIS.
The IAIS is currently co-ordinating and reviewing such activities and considering improvements, taking into account the FSF recommendations