PRA consults on accelerating investment by insurance firms

The PRA has launched a consultation on reforming the Matching Adjustment application process, by introducing a Matching Adjustment Investment Accelerator (MAIA) permission to reduce barriers to investment by insurers.

The MAIA would remove the requirement on firms to obtain prior approval from the PRA before claiming the Matching Adjustment benefit on certain assets. If pursued, firms with a MAIA permission would have 24 months to submit a format MA application on eligible assets with new features, reducing the risk of missing time-sensitive investment opportunities.

The consultation closes on 4 June 2025.