Lloyd's Market Association Bulletin

LMA20-055-PD | 15 December 2020

Reporting Rationalisation Review

The LMA engaged PwC earlier in the year to conduct a review of the financial and regulatory reporting landscape for managing agents. I would like to thank all the people at managing agents across Finance, Actuarial and Risk functions who contributed to the research as well as PwC for compiling the analysis and report.

The scope of the review was to gather factual information from a managing agent perspective on the time and effort spent on each major report type and to explore the themes that present opportunities to improve the efficiency and effectiveness of the reporting processes both from a managing agent and Lloyd’s perspective.

The themes and recommendations, along with the quick wins, now provide a useful framework for us to work with Lloyd’s in the coming months through a number of different working groups. As I’m sure you understand the implementation of any of the recommendations is subject to working through the detail and we look forward to collaborating with each of the relevant Lloyd’s departments to achieve outcomes that benefit all involved. We also expect there will be opportunity to bring the content of this review into the design of solutions in the Future at Lloyd’s programme. 

The report is available to download below

Download now (pdf)


Paul Davenport
Finance Director