EIOPA published the results of its Long-Term Guarantee Assessment (‘LTGA’) on 14th June 2013. This proposed extending the scope of the ‘classical matching adjustment’ to non-life liabilities, provided these comply with the qualifying criteria.
Whilst the qualifying conditions are likely to preclude most non-life contracts, the matching adjustment could potentially be applicable to Periodic Payment Order (‘PPO’) claim liabilities. However a number of qualifying criteria stand in the way of non-life insurers benefiting from the matching adjustment.
This is your last opportunity to lobby to ensure that you are able to take advantage of the benefits of the matching adjustment.
Our paper discusses the most significant hurdles facing non-life insurer.