Commission approves scrapping of extended matching adjustment
Brussels frames Solvency II long-term guarantees debate along the lines of Eiopa’s proposals
The European Commission is standing firmly behind proposals to scrap an extended version of the matching adjustment and introduce a volatility adjuster in Solvency II's long-term guarantees package.
The commission's endorsement of the recommendations from the European Insurance and Occupational Pensions Authority (Eiopa) is expected to attract wide criticism from the insurance industry and some European member states, ahead of the recommencement of trilogue discussions on Omnibus II.
While
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