Regulators back down on operational risk capital charges

EC excludes acquisition expenses of unit-linked products


Internal model change rules are 'highly burdensome'

Concern over requirement to notify supervisors of parameter updates


Zurich targets small pension funds with simplified longevity hedge

Hedging contract obviates need to exchange collateral


Going off-trail on internal models

Over the past three years, about one in three UK insurers intending to build an internal model have scrapped their plans. More could follow before April next year, when the formal applications are due. Hugo Coelho investigates.


BT bypasses intermediaries in record longevity swap

Deal confirms increasing popularity of pension de-risking transactions


PRA ignores insurers on matching adjustment rules

The UK's regulator has failed to clarify the rules for applying the matching adjustment, but has set out conditions for repackaging assets and is inviting firms to engage in a trial application. Hugo Coelho reports


The UK pensions bombshell: opportunities among the wreckage?

The UK annuities market is undergoing a dramatic change as the rules on retirement products are rewritten. In this article, Christopher Cundy looks at five major implications for products and strategy


Swiss Re, Scor and Munich Re share in Aviva's £5bn longevity risk swap

Largest longevity deal with pension fund to date


PIC delivers £30m buy-in for parcel pensioners

The transaction covers around £30m of pensioner liabilities and 645 members


FCA dices with actuaries in annuity profits probe

The UK's Financial Conduct Authority wants to make the annuity markets more competitive, but tackling excess profitability and price differentiation may be a bigger challenge than it thinks. Christopher Cundy reports