In limbo: insurers await PRA views on matching adjustment
The list of questions gets longer, and the time left for answers gets shorter. The UK industry can only wait as regulators prepare a final position on details of the Solvency II matching adjustment.
UK firms are counting down to the implementation of Solvency II, but their regulators refuse to be rushed on details of how a critical part – the matching adjustment – will apply. There have been two letters from the Prudential Regulation Authority (PRA) to the industry, a summit, trial submissions, and a pre-application process is now under way, but still insurers don't know exactly what to expect. The delay is creating confusion about how much benefit individual firms will get from the measure
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