Just when life insurers were breathing a sigh of relief for getting over the Matching Adjustment (MA) hurdle, the Prudential Regulation Authority (PRA) has released a draft supervisory statement explaining further aspects of how they expect portfolios to be managed.
The government has released its response to the secondary annuity market consultation which ran earlier this year. We summarise the response and consider what it means for insurers, potential investors and consumers.
Following pressure from UK insurers (largely through the ABI), an external review of EIOPA’s fundamental spreads was conducted during November 2015.
Following substantial political pressure, the European Commission has rushed through reduced capital charges under the standard formula for certain investments. The reductions are a positive step, but do they go far enough?