LMA Solvency II Committee
In December 2009, following the completion of the work done by the LMA Solvency II Working Group on the review of and the submission of responses to CEIOPS Consultation Papers on Level 2 implementing measures, the LMA Solvency II Committee was formed to provide practical guidance to the market to ensure the successful implementation of Solvency II at Lloyd’s.
Nine working groups, led by representatives of LMA member firms, have been formed for specific areas where guidance is required. These are:
- System of governance
- Model scope and use
- Statistical quality standards
- Calibration, validation and profit & loss attribution
- External models and data
- Technical provisionsSupervisory reporting and disclosure
The members of the Committee are the group leaders of the above working groups and two representatives from the LMA Executive. Three representatives from Lloyd’s have been co-opted onto the Committee.