Lloyd's Business Planning process under review
A review by the Lloyd’s Market Association has proposed a number of recommendations for ways in which the annual Lloyd’s Business Planning process could be improved.
A sub-group of the LMA’s board concluded in February that Lloyd’s Capital Setting and Business Planning needed to be delivered as a single, integrated process consistent with the way in which managing agents operate in a Solvency II environment.
The review also highlighted the market’s desire for greater clarity and transparency on the assessment criteria used by Lloyd’s, and for the planning timetable to commence earlier in the year, a point which was of particular importance to aligned syndicates.
We are now awaiting Lloyd’s response to the review.