Committee of Actuaries in the Lloyd’s Market
The Committee of Actuaries in the Lloyd's Market (CALM) are a sub-committee of the LMA Finance Committee that meets monthly, where any topics suggested by members may be discussed. The current chair is Laura McMaster (Asta) and the deputy chair is Lydia Rhodes (Axis), the secretary is Sanjiv Sharma (LMA).
Key activities
The main activities of the committee include:
- identifying issues of common concern to actuaries in the Lloyd’s market and to facilitate wider communication and/or discussion of such issues
- developing and responding to proposals from Lloyd’s, regulators or professional bodies etc
- liaising with Lloyd’s to provide practitioner advice on matters requiring actuarial input, with an aim to making a positive contribution to decision making
- providing a focused means of communication between actuaries employed by managing agencies and the Faculty and Institute of Actuaries and other relevant bodies.
Current Working Groups
The below working groups are open to actuaries practicing in the relevant areas at managing areas. Please email Sanjiv Sharma if you are interested in joining.
Working group for climate change
- Supporting Lloyd’s thematic review of climate change capital modelling practices in 2024.
Working group on new syndicate capital setting processes
- The Lloyd’s Standard Model (LSM) was built and published in 2022, to be used for setting capital for new entrants. This group will provide input to the development of the model is planned by Lloyd’s for 2024.
Working group on LCR instructions/Focus Areas return
- As in previous years Lloyd’s would like to run the Focus area return and LCR instructions by volunteers from CALM before this is finalised for input.
Working group on capital setting bases
- Working group to provide market input on potential for longer term changes to Lloyd’s capital setting process and structure.
Working group on reserving tests of uncertainty
- Working group to provide feedback on proposed reporting requirements for managing agents as part of the LCR validation reports in relation to the validation that they perform on their prospective modelled loss ratios.