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SFCR 2025 - The matching adjustment misfired, again, in Spain in 2024
13 June 2025Overall, the MA delivered a capital benefit to Spanish lifers using it in 2024. But that was not always the case, for the capital requirements of most of its users
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Chart of the Week - When the MA goes 'the wrong way' for Spanish lifers
28 April 2023Ideally the MA, with life liabilities backed by predictable income assets, should improve users' capital coverage. Often, that's not been so in Spain.