The committee approved the previous minutes and confirmed that no open actions remain. A key focus was an update on the PRA’s CP10/25 consultation, including details of the upcoming meeting with the PRA to discuss the LMA’s draft response, which will address challenges around climate scenario analysis, proportionality, risk frameworks, and regulatory alignment. Lloyd’s provided an update on business planning, increased scrutiny around loss ratios, and the BP2 Exit Plan, with further clarification given on data assurance and regulatory expectations. The committee also discussed integrated assurance practices, agreeing to circulate a survey to gauge current approaches. The Risk Next Gen team is developing a framework for AI risk management, informed by member insights and an upcoming survey. A proposal for an LMA Annual Risk Outlook was introduced, aiming to consolidate risk insights across the market into a structured, forward-looking view. Finally, members explored how to better understand and manage geopolitical risk through scenario planning and proposed a CRO-led event to develop practical approaches. A list of actions and follow-ups is included at the end of the document