The committee received an update from Lloyd’s CRO on succession planning, key risks in cycle management and regulatory engagement. The PRA’s evolving approach to competitiveness and growth was discussed, alongside uncertainty around solvent exit plan requirements. The group also reviewed 2025 priority themes including geopolitical risk, AI response and risk culture, with actions agreed to link efforts with other LMA groups. The ORSA workstream by Risk Next Gen is progressing and a joint session is planned. The committee noted a forthcoming update to PRA SS3/19 and called for a deputy chair volunteer.