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Nigeria : Insurance Core PrinciplesThis assessment provides an update on
 the significant regulatory and supervisory development in
 the Nigerian insurance sector since 2001. Nigeria undertook
 an initial Financial Sector Assessment Program (FSAP) in
 December 2001, which included a review of the structure of
 Nigeria's insurance market and the supervisory
 framework and approach. Nigeria has also undertaken reviews
 of its observance of international accounting and auditing
 standards (2004 and 2011), and corporate governance (2008).
 The Nigerian authorities have taken steps to address a
 number of weaknesses identified in the 2001 FSAP. The
 assessment was benchmarked against the Insurance Core
 Principles (ICPs) issued by the International Association of
 Insurance Supervisors (IAIS) in October 2011. As the
 compulsory insurance is enforced, the cost of intermediation
 of compulsory insurance and the purchase of retirement
 annuities need to be addressed to improve efficiency of the
 market. This note is structured as follows: chapter one
 gives key findings and recommendations; and chapter two
 gives detailed assessment.
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Financial Sector Assessment Program Update : Nigeria - Insurance Core PrinciplesThis assessment provides an update on the significant regulatory and supervisory development in the Nigerian insurance sector since 2001. Nigeria undertook an initial Financial Sector Assessment Program (FSAP) in December 2001, which included a review of the structure of Nigeria's insurance market and the supervisory framework and approach. Nigeria has also undertaken reviews of its observance of international accounting and auditing standards (2004 and 2011), and corporate governance (2008). The Nigerian authorities have taken steps to address a number of weaknesses identified in the 2001 FSAP. The assessment was benchmarked against the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAIS) in October 2011. As the compulsory insurance is enforced, the cost of intermediation of compulsory insurance and the purchase of retirement annuities need to be addressed to improve efficiency of the market. This note is structured as follows: chapter one gives key findings and recommendations; and chapter two gives detailed assessment.
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Slovenia : Pilot Diagnostic Review of Governance of the Insurance SectorThis review looks at the governance of
 the insurance sector in Slovenia, analyzing the legal
 framework and its enforcement and the adoption of corporate
 governance principles by firms. It is intended to provide
 policy makers and insurers in Slovenia, and other countries,
 with insight into existing corporate practices, and to offer
 a framework of good practices that can assist lawmakers in
 their efforts to strengthen governance in the insurance
 sector. The report may also contribute to the ongoing
 international debate on good corporate governance practices
 in insurance sector companies worldwide. It has three
 objectives: improving the description of good practices
 related to governance of insurance sectors; conducting a
 diagnostic review of Slovenian insurance governance against
 these benchmarks, and providing recommendations on ways of
 further improving the corporate governance of the Slovenian
 insurance sector. The review concludes with recommendations
 for auditing and risk evaluation, and advises that, although
 Slovenia's three finance regulators have served it well
 to date, the regulatory and supervisory structure for the
 finance sector is in need of more review before a joint
 working group could be established to implement the legal,
 organizational, media, and sequencing issues involved in
 creating an integrated regulatory agency.