ABI urges joint application process for long-term guarantee measures

Single process would reduce costs and time involved in applying for adjustments

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The Association of British Insurers (ABI) is recommending that the application processes for the matching adjustment (MA) and volatility adjustment (VA) be harmonised to reduce the administrative burden on firms.

The Prudential Regulation Authority (PRA) released Consultation Paper 16/14 (CP16/14) on August 11, detailing how it intends to transpose Solvency II into its domestic rulebook. It included updated information on how the regulator will go about granting firms approval to use certain lon

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