UK insurers set to lobby for easing of constraints on matching adjustment
Concern that European Parliament is bringing debate on new version of matching premium into the level 1 negotiations
The UK insurance industry will continue to press for changes to the matching premium, despite it being recognised in the amended text for Omnibus II, which was approved by the European Parliament’s Committee on Economic and Monetary Affairs (Econ) on March 21.
The inclusion of a new version of the matching premium – now called the matching adjustment – was cautiously welcomed by UK insurers, which have been arguing that it is vital to their ability to offer affordable long-term annuity products
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