PRA proposes ending duplicate internal-model output reporting for Lloyd’s syndicates

The UK Prudential Regulation Authority is proposing to remove Lloyd’s syndicates from a specified internal-model output return because it says the information duplicates data available through other Solvency UK reporting and Lloyd’s.

The proposal is part of the PRA’s July 2026 low-impact amendments consultation, LIAC02/26. If adopted, syndicates would not submit the return to the PRA for 2026 year-end results. Consequential changes would be made to the associated supervisory statement and instructions.

This is a narrow reporting amendment. It does not remove internal-model, governance or wider supervisory requirements for Lloyd’s syndicates.

Responses are due by 11 September 2026, and the PRA proposes implementation on 31 December 2026. The change remains subject to consultation and is not final.

Source

Low impact amendments consultation — July 2026 — Prudential Regulation Authority.