The committee approved the minutes with no comments and reviewed progress on prior actions. Lloyd’s provided a detailed update on the asset infrastructure programme, confirming the removal of AAD returns, ongoing QAD requirements until late 2026, and continued challenges integrating with Clearwater. TS1 and TS2 reporting developments were discussed, with improvements underway and further data-quality feedback encouraged from the market. Lloyd’s presented revised drafting of Sub-Principle 5 on sustainability, shifting toward a more proportionate, performance-focused oversight approach with clearer flexibility for syndicates using group-level RI policies. Clarifications were also provided on illiquid asset allowances and issuer exposure thresholds. The committee agreed its priorities for 2026, including deeper CIO/CFO engagement, greater transparency on Lloyd’s investment governance, oversight evolution, London Bridge 2 considerations, LOC processes, thematic risk playbacks, continued support for asset infrastructure changes and review of LMA investment survey outputs. Finally, the group discussed the potential value of a market-wide survey on asset-manager usage and operational experience.