Between 2 March 2026 and 29 May 2026, Lloyd’s is piloting a co-ordinated appointments process with the PRA and FCA.
During the pilot period, when submitting proposal notifications to Lloyd’s please note the following points:
● The pilot only applies to Managing Agent Senior Management Function (SMF) applications.
● For Members’ Agent SMF and non-SMF roles and for Managing Agent non-SMF roles (appointment of Active Underwriters, Run-Off Managers, non-SMF Directors and Non-Executive Directors), the notification process remains unchanged at this stage.
● For proposed appointments within the scope of the pilot:
- Managing Agents should continue to submit the notification form must continue to be submitted to Lloyd’s and should be submitted within 24 hours of submission of the regulatory application forms (Long/Short Form A and Form E) to the PRA and FCA. The PRA/FCA will provide copies of the application and documentation to Lloyd’s.
- Lloyd’s and the PRA and FCA will conduct a co-ordinated review of the application working to the timelines that support the regulators in meeting their statutory deadlines.
- The final decision for all SMCR applications will continue to be made by and communicated by the PRA and FCA.
- For the period of the pilot, the five-day Lloyd’s review period will not apply for SMF applications.
For all appointments, the individual being appointed will need to be made aware of the Surplus Lines Declaration required by the NAIC. By submitting this form, you are confirming that the individual has seen and made the declaration required by the NAIC for the purposes of transacting business in the USA. If the individual appointed to the senior position has not him/herself made the declaration, then the person who confirmed the declaration on behalf of the individual to be appointed is taken as confirming that they have shown the declaration to the individual and has authority to confirm the declaration on behalf of the individual.
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