01878cas a2200241 a 4500 AALejournalIMF016852 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484393789 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. United Kingdom : Financial Sector Assessment Program-Insurance Sector-Technical Note. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (49 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides an assessment of the insurance sector in the United Kingdom. The United Kingdom has one of the deepest, most developed insurance markets in the world. Insurance penetration is 50 percent higher than in the European Union or other advanced economies, and the expenditure per capita in insurance amounts to USD 5,429 as compared with USD 3,815 in the advanced economies. The supervisory approach of both the Prudential Regulation Authority and the Financial Conduct Authority (FCA) are forward-looking and risk-based. However, improved data availability and an enhanced risk appetite statement are required. Notwithstanding stronger enforcement on supervisory and enforcement actions, important challenges still need to be addressed by the FCA. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/158 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/158/002.2016.issue-158-en.xml IMF e-Library