BoE presses ahead with contentious insurance reforms
Changes to matching adjustment juggle competing priorities from government, firms and regulator
The Bank of England is pressing ahead with reforms designed to hold insurers to a higher standard of risk management, despite “unease” from industry participants.
A consultation published today (September 28) by the BoE’s regulatory arm sets out changes to rules on the matching adjustment (MA), part of the Solvency II insurance regulations. The MA governs the amount of expected future returns that a firm can treat as capital.
The UK is reworking its insurance rulebook – dubbed “Solvency UK” –
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