The document records the Property Reinsurance Business Panel meeting held Wednesday 14 October 2025 (15:30–16:30) in LMA Meeting Room 3 and on Teams, chaired by Freddie Gerstrom, with Chris Mather as secretary. Apologies were noted, and the panel reiterated its commitment to competition law compliance. Minutes from the July 2025 meeting were approved. 

A main agenda item was a briefing from Lloyd’s Europe (LIC) and the Met Office on a decadal natural catastrophe modelling project, exploring how decadal climate forecasts could support resilience decision-making. Members discussed potential uses for risk management, underwriting and reinsurance strategy, and parametric product development. The project will focus on Southern Europe heat/low rainfall (wildfire/drought) and Northern Europe windstorm metrics, using Met Office forecasts at around 30km resolution; flood modelling is not included. Deep-dive sessions with market volunteers will follow, with an update planned in the new year. 

Other items included progress on a wildfire occurrence clause and Project Spring Clean reviewing legacy clauses (keep/archive/update decisions), plus Non-Marine Committee update and confirmation of Dashika Ratnasabapathy from Antares as Deputy Chair.