The Independent Expert

Mr Carmine Papa of PKF Littlejohn LLP has been appointed by Lloyd’s as an Independent Expert. His appointment has been approved by the Prudential Regulation Authority (“PRA”) in the UK, in consultation with the Financial Conduct Authority (“FCA”). His role is to consider the impacts of the transfer on all policyholders. He has written a report of his considerations and findings for the Court to consider.

Mr Papa’s principal conclusion is that no policyholder will be adversely affected by the transfer.

Profile

Carmine Papa, is a Partner of PKF Littlejohn LLP and a Fellow of the Institute of Chartered Accountants in England and Wales. He has been involved with the Lloyd’s insurance market in a number of capacities for the last 35 years, including assessment of the Lloyd’s Syndicates insurance liabilities and assessing the quality of the actuarial projections to assess those liabilities.

He has been appointed by Lloyd’s to act as the Independent Expert in connection with this transfer. His appointment has been approved by the PRA in consultation with the FCA. He has no financial interest in the Corporation of Lloyd’s or Lloyd’s Insurance Company S.A. (“Lloyd’s Brussels”)

PKF Littlejohn LLP currently acts as auditors and professional advisers to a number of Syndicates. Currently the Independent Expert does not have direct involvement with Syndicate audits nor does he currently advise Syndicates in a professional capacity. Neither PKF Littlejohn LLP nor the Independent Expert have acted for the Corporation of Lloyd’s for at least the last 10 years and have never acted for Lloyd’s Brussels in any capacity.

The Independent Expert’s report can be accessed via the Document Library. Due to its technical content his full report is only available in English. A summary of his full report is available in French, Spanish Italian, German and Dutch.

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