2. Market Analysis Different jurisdictions-inter connected Segments of financial Sector IDENTIFY:  Risks and vulnerabilities  Trends and future scenarios

3. OFFSITE MONITORING o Identify potential problems o Differentiate between disclosures to  policy holders and investors  supervisory authority ISSUES  frequency  reliability  responsibility  cost?  material changes?

4. ONSITE INSPECTION  Outsourcing  More extensive and direct  Risk assessment  Need for direct communication  Knowledge levels ?  Lack of trust ?  Question of corrective action  Penalties

5. GROUP WIDE SUPERVISION  Group-meaning  Different roles for different units  Need for closer coordination between different Regulators  Transactions among constituents

6. Information, disclosure and transparency towards the market Reliable and Timely information Efficient, Fair, Safe and stable markets Focus is to protect Policyholders Comprehensive and meaningful Risk exposures