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In this consultation paper (CP) the Prudential Regulation Authority (PRA) proposes and seeks feedback on a draft supervisory statement setting out its expectations on firms in relation to the application of the matching adjustment (MA) for the purposes of calculating technical provisions, including in the context of applications for MA approval and the ongoing management of MA portfolios under Solvency II (the Directive). |
Summary of proposals
The draft supervisory statement sets out the PRA’s proposed expectations of firms with regard to the MA in the following areas:
The PRA is consulting on this draft statement to allow firms the opportunity to provide feedback and highlight any issues of concern to them.
This consultation is relevant to all UK Solvency II firms and to Lloyd’s.
The proposals in this consultation contain the PRA’s expectations on firms in relation to applications for MA approval and in particular, on issues concerning the eligibility of annuity assets purchased in a secondary market. The proposals also contain the PRA’s expectations on issues to be considered once MA approval has been granted, such as the issues of ongoing MA compliance, dealing with MA breaches and what happens when there are changes to MA portfolios.
Response
The PRA welcomes views on this consultation by Friday 15 July 2016. Please address any comments or enquiries to CP16_16@bankofengland.co.uk.
To download the consultation paper please click below
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| London Market risk leader | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| London Market risk management | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| Actuarial Pensions Advisory - Assista... | ||
| Flex / hybrid 2 days p/w office-based - Negotiable | ||
| Data-driven pricing analyst | ||
| Cardiff / hybrid 2-3 dpw office-based - Negotiable | ||
| Senior Pensions Administrator | ||
| Various UK locations / hybrid - Negotiable | ||
| Capital Actuary | ||
| London - £140,000 Per Annum | ||
| Reporting Manager - South East/Hybrid | ||
| South East, Hybrid - Negotiable | ||
| Project-oriented pensions consultant ... | ||
| Any UK Office location / Hybrid working, 2 days p/w in office - Negotiable | ||
| Senior BPA Leader | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Risk Settlement Project Support | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| Risk Settlement Lead | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| Pricing Analyst - Life Actuarial | ||
| South East / hybrid - Negotiable | ||
| Senior Actuarial Trainee | ||
| South East / hybrid 3 days p/w office-based - Negotiable | ||
| Head of Capital | ||
| London - £160,000 Per Annum | ||
| Actuary – Broker | ||
| London - £150,000 Per Annum | ||
| Senior Pricing Analyst - Travel Insur... | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| BPA Analyst - Non-actuarial | ||
| North West / hybrid 50/50 - Negotiable | ||
| Financial & Insurance Risk Actuary | ||
| Scotland / hybrid 2 dpw office-based - Negotiable | ||
| Pensions (Scheme) Regulation Director... | ||
| London or Birmingham with flexible hybrid working - Negotiable | ||
| Cross-Asset Structurer - International | ||
| Zurich - Negotiable | ||
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