Matching adjustment
Fears of runaway risk on offshore reinsurance
Life insurers catch the eye of UK regulator for pension buyout financing trick
Reinsurers take on role providing Solvency II capital relief
Firms such as RGA are covering surrender risk, offering to replicate matching adjustment
Eiopa stress test highlights UK reliance on matching adjustment
Tests reveal how unwelcome any watering down of key measure would be
No subordination: Aviva’s clever matching adjustment repack
Insurer's repack vehicle issued only single senior note
Matching adjustment repack structures revealed
Public company filings show details of Aviva’s single senior note structure, L&G’s £6 billion forex repack
Insurance capital standard can be forged on time – Cadoni
Chair of IAIS working group asserts ICS will not be mere capital backstop
Insurers eye secondary annuities as perfect matching asset
Some UK firms see nascent market as source of ideal hedging tool
LV= weighing options for equity-release mortgages
Complex assets left out of matching adjustment application, but could be added when internal model is approved
Life firms irked by patchy matching adjustment approvals
UK regulator could have been more clear about success of bolder submissions, say advisers
Changes to fundamental spread help UK insurers, not others
Recalibration of part of Solvency II makes little difference to euro volatility adjustment
Tighter spreads prompt insurers to rethink liquidity premium
Firms struggling to know whether returns justify buying illiquid assets
Illiquidity worries UK insurers in forex hedging switch
Cross-currency swaps could become more expensive as firms' demand increases
Smoothing the way
Fraught matching adjustment applications push more firms towards transitionals
Top annuity firms turning to transitionals
Doubts on matching adjustment are causing insurers to change plans
PRA could be more flexible on matching adjustment collateral
Rigid view forces repapering of trades with no benefit for policyholders
‘Fixed is fixed’ – DNB stands firm on matching adjustment
Dutch regulator unmoved on mortgages and group pensions
UK life firms rethink forex hedging after PRA note
Matching adjustment applicants using forex forwards have little time to adjust
Matching adjustment: PRA note clarifies and criticises equally
UK regulator sets out cashflow needs, but restates old concerns
‘Unpleasant surprise’ casts shadow over SII adjustments
Eiopa calculations show unexpected increase in fundamental spread
PRA letter on equity release leaves insurers puzzled
Internal structures allowed, but firms pushed towards internal models
DNB takes firm line on matching adjustment repacks
Structuring of assets must remove residual prepayment risk