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Q1 2009 QMR – exchange rates, major losses and other information - page 2 / 5





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check that the pre-populations are working correctly for their syndicates. Please note that while the current software will permit agents to set up Q1 2009 QMAs and QMBs, any data entered into returns set up on this basis will need to be exported and loaded to the new software when it is promoted.

The instructions have been amended for the changes advised above but agents should also note that the instructions for form QMA201 now incorporate the requirement for the inclusion of a note in QMA990 on any write downs. The other key change to the instructions is that they now include a requirement that any resubmission of a return must include a comment in the 990 form summarising why the resubmission is required. This is to be a requirement for all CMR return types.

The Q1 2009 instructions will be released through Members Services by Friday 10 April: the version will be 2009 v1.0. The instructions will be posted on the Core Market Returns site when the updated software is promoted to production.

There are no changes anticipated to the software for Q2 2009 or Q3 2009. The instructions should therefore only require updating if a significant issue is raised in the FAQ process.

Q4 2009

The instructions will need to be reissued for Q4 2009. Firstly, the timetable for the year-end process needs to be finalised. Secondly we do need to add a couple of forms to capture additional disclosures that are required by the Insurance Accounts Directive (Lloyd’s Syndicate and Aggregate Accounts) Regulations 2008, eg on auditor remuneration. Finally, as noted in market bulletin Y4246 entitled “Lloyd’s American Trust Fund (LATF)”, while the LATF arrangements for non-life syndicates have been amended, there has been no change in arrangements for life syndicates. The Q4 2009 section of the current instructions therefore still refers to forms QMA250 and QMA921 but they are only to be completed by life syndicates. If there are any developments later in the year that affect the LATF reporting of life syndicates the instructions to be issued for Q4 2009 will incorporate relevant amendments.

Reporting performance issues

We would encourage all agents to report any issues they have with the performance of the software and accessing the systems as soon as they arise. This will enable the ITG help desk to help resolve the issue earlier in the process and enable us to monitor service levels in real time and respond quickly as issues emerge. The contact details for the Data Management team 020 7327 5252 (e- mail: ITGDataManagement@Lloyds.com).

Queries Any queries or comments on the return should be submitted via e-mail to Market Reporting (lloyds- MRD-ReturnQueries@lloyds.com).

Robert Smith


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