The group reflected on year-end reporting challenges, including strict FRS 102 audit requirements, overlapping deadlines and delays caused by auditors prioritising group work. Fragmented reporting and late-stage audit issues added pressure, and some boards were asked to approve accounts before audits were complete.

Members discussed the rise in bespoke data requests since QMA ended and the need for market-wide standardisation. Lloyd’s asset infrastructure plans were also impacted by Clearwater’s refusal to share data, limiting expected efficiencies and requiring continued manual submissions.

Forum logistics were streamlined, a new deputy chair was agreed, and feedback collection will move to Microsoft Forms. Lloyd’s highlighted continued tagging quality issues and mixed provider performance, prompting plans to gather market-wide insight.

Updates were given on the upcoming PRA dynamic stress test, the 1% levy refund process and queries around segmental data requirements, which Lloyd’s will review.