MAIA framework: The PRA’s proposed plan to unlock £100bn+ in investment from UK insurers (CP7/25)

The Prudential Regulation Authority (PRA) has launched a consultation on a new initiative designed to accelerate investment into productive assets by UK insurance firms.  The proposal put forward will be called the Matching Adjustment Investment Accelerator (MAIA).

What is the MAIA?

The Matching Adjustment Investment Accelerator (MAIA) is a new regulatory framework that removes the need for insurers to seek prior PRA approval before claiming Matching Adjustment (MA) benefits on certain productive assets.

This change aims to:

• Speed up investment processes
• Promote growth in the UK insurance sector
• Support the PRA’s competitiveness and growth objective
• Help unlock £100bn+ in capital for UK infrastructure and other productive, growth-generating assets

How it works

Insurers with existing MA portfolios can apply for MAIA permission, and if approved, can include a limited volume of self-assessed assets that possess different features in their MA portfolios without waiting for PRA sign-off. MA benefits (i.e. capital relief) can then be claimed immediately.

Firms have 24 months to submit a formal application to formally include these assets inside their MA portfolio scope.

If implemented, the MAIA would lead to updates to:

• The PRA Rulebook
• Supervisory statements (SS7/18, SS8/18, SS5/24)
• The Statement of Policy on MA Permissions

Timelines

• Q4 2025 – Expected implementation of the. MAIA (subject to CP responses)
• 4 June 2025 – Consultation closes.
• 31st December 2026 – Matching Adjustment Asset and Liability Information Reporting (MALIR) changes to come into force.

This is a significant step towards enhancing investment flexibility for UK insurers and stimulating long-term growth in the UK economy.

Want to respond?

Email CP7_25@bankofengland.co.uk.

More details are available in the full Consultation Paper on the Bank of England website.

Need more guidance?

Send us a message if you would like to learn more about how we can help you navigate these upcoming changes –  info@4-most.co.uk.