1. 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 Control Framework Control Framework Breakfast Group AGENDA

2. Control Framework Control Framework Breakfast Group Project Update

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

4. 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 Control Framework Survey Feedback

5. 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 Control Framework Survey Feedback

6. 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 Control Framework Survey Feedback

7. 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 Control Framework Survey Feedback

8. 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? Control Framework Survey Feedback

9. Control Framework TRRP Summary Plan - 2013 & Beyond … 9 Q3Q4Q1Q2 20132014 External U.A.T Singapore Shared Service LIRP Old DR system decommissioned…… Direct Reporting Robust Solution UAT System ready Test & Prep for sign-off MA’s Develop & Implement controls Data Standards Control Framework PHASE I JUNE 2013 Data Standards Control Framework PHASE II Test with “friendly” MA’s & Brokers Raise market awareness Market Engagement Commence roll-out until Dec 2014 Q3Q4Q1Q2 Implement with interested Market MA’s Develop and Test. On-going Implementation to Service Companies DEC 2014 LIVE APR 2013 PILOT LIVE JUL 2013