Matching adjustment ring-fencing provisions ‘a threat’ to mutual insurers


Mutual insurers have slammed the ring-fencing requirements of the matching adjustment, saying the versions of the measure being tested in the long-term guarantees impact assessment (LTGA) would damage their business model.

Many mutual companies combine their with-profits business with other business lines, typically annuities, in a common fund in order to reduce their capital requirements through risk diversification. Under the LTGA's technical specifications, insurers would need to place a ring

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 or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here