
Matching adjustment repack structures revealed
Public company filings show details of Aviva’s single senior note structure, L&G’s £6 billion forex repack

In the final days of last year, several UK insurers rushed plans to their regulator, the Prudential Regulation Authority (PRA), to transform assets that would not qualify for Solvency II's matching adjustment (MA) into assets that would.
Submissions of these repackaging transactions – or 'repacks' – were the end product of a three-year industry debate about how ineligible assets should be treated, punctuated by a UK Treasury intervention and an unexpected regulatory U-turn.
Confusion had
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurance
Regulation
EU still undecided on how to implement minimum repo haircuts
Concerns over non-bank leverage may derail push to include haircuts in bank capital rules
Receive this by email