Matching adjustment: delegated acts leave risk margin unclear

Industry still split on inclusion of spread risk in calculation

Eiopa flags

UK insurers remain in the dark on the amount of capital benefit they will be able to claim for the matching adjustment (MA), despite the publication of the Solvency II delegated acts on October 10. One insurance executive, who chose not be named, said the way in which the issue was being handled by regulators was "unforgivable".

Fears that the MA could be watered down stem from a communication by the European Insurance and Occupational Pensions Authority (Eiopa) on June 25, in which it explained

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