Cash-flow design and equity placement test private-credit managers targeting UK matching adjustment, says Macfarlanes
By IAN Editorial Desk
30 September 2026·3 min read
Primary source: macfarlanes.com
The law firm says eligible-asset supply usually constrains insurers in pension risk transfer, leaving openings for independent managers.
Bringing a new private-credit asset or structure into a UK life insurer's matching adjustment (MA) portfolio involves considerable regulatory, rating and structuring work, law firm Macfarlanes said in an article published on 30 September 2026. Its analysis compares how different structures split the eligible senior exposure from the junior and equity pieces that sit outside the MA portfolio.
Macfarlanes says…
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