Control Framework Breakfast Group AGENDA

1. Control Framework Control Framework Breakfast GroupAGENDA • 09.30 Arrival, breakfast & Networking • 10:00 Round-up of 2012 & General project update • 10:15 Singapore Shared Services Update • 10:45 "Risk decision taking: are decisions more instinct than informed judgement“ • 11:20 Q & A Session • 11:30Close

2. Control Framework Control Framework Breakfast Group Project Update

3. Control Framework 2012 Market Achievements • Obtained senior management buy-in • Created project teams • Retained the element of “calm” in terms of the message • Excellent Market engagement & cross collaboration

4. Control Framework Survey Feedback Do we continue with this group? • 94.1% - Yes Preferred method of Phase II engagement? • 27.80% - Lloyd's project team to engage brokers • 0.00% - MAs to communicate directly with brokers • 66.70% - Combination of both of the above • 55.60% - Invite Brokers to this forum

5. Control Framework Survey Feedback Suggested Topics for 2013 • Contract certainty requirements for service companies vs. open market business • Concentrate more on third party Coverholders • Guidance to the board prior to sign off - approach to Coverholders • Strategy used to ensure compliance • Case Studies Phase 2 rollout and implementation • The road to sign off by June 2013 for Phase 1 • Issues being identified by MAs that appear common and early info on the next two phases • Plans for the next 6-9 months

6. Control Framework Survey Feedback Suggested Guest Speakers for 2013 • Lloyd's brokers that produce business direct to service companies • Fiscal Reps and get their view of the Control Framework • Peter Montanaro • Xchanging • More Managing Agents • External Coverholders - a brokers perspective on the whole subject

7. Control Framework Survey Feedback Specific recommendations for Phase 2 • Contract certainty standards emphasised • In line with the Coverholder reporting standards • Responsibilities distributed early to avoid confusion • Involve the DUM/DUC/BOLT meetings • Same as Phase 1 – “soft” approach • A user guide is useful as per Phase 1 + other means of building technical understanding • Share approaches more proactively • As per phase 1, clear communication of what is required • Communication, in the first instance, comes from Lloyd's • This group is a good place for the “working party” to report back to those not directly engaged in it

8. Control Framework Survey Feedback Additional comments… • Engage with internal audit at an early stage • Lloyds must take the lead approaching the brokers - single and coherent message • Earlier start time for this group – finish by 10am? • Will there be a Green Book for Phase 2?

9. Control Framework TRRP Summary Plan - 2013 & Beyond … 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 LIRP Old DR system decommissioned…… Data Standards Control Framework PHASE I MA’s Develop & Implement controls Test & Prep for sign-off JUNE 2013 Data Standards Control Framework PHASE II Market Engagement Raise market awareness Test with “friendly” MA’s & Brokers Commence roll-out until Dec 2014 DEC 2014 Direct Reporting Robust Solution External U.A.T Implement with interested Market MA’s LIVE APR 2013 PILOT Singapore Shared Service Develop and Test. On-going Implementation to Service Companies LIVE JUL 2013 UAT System ready