The committee approved the November minutes and received a detailed update from Lloyd’s covering the March reassessment, IMO submissions, model test requirements and upcoming capital briefing. Lloyd’s highlighted key process changes, internal team restructuring, and presented the redesigned Reserve Benchmarking Report, noting improved interactivity but also data limitations. CALM welcomed new members, confirmed changes in leadership roles, and reviewed the annual CPG survey, which highlighted concerns around communication, differentiation of oversight groups, and the usefulness of the early capital view. Priorities for 2026 include promoting proportionate oversight, supporting developments in partial internal models, contributing to reporting rationalisation, and advancing AI actuarial use cases.