Principles for Doing Business at Lloyd's
Principle 1: Legacy Reinsurance Underwriting Profitability (RITC syndicates) – Principles for Doing Business at Lloyd's

Principles for Doing Business at Lloyd's P1a.4: 1a.4 Legacy expense management

Expenses are appropriate for the legacy business written. Baseline: a medium to long term strategy to control net operating expense; an internal expense policy with thresholds and referral points; quarterly MI tracking position against expectation with remediation; administration expenses proportionate and forecast in line with the strategy. Higher levels add monthly MI, understanding of all operating expense as part of the strategy, forward-looking identification of expenses and real-time tracking against forecast.

Maintained by Gerard Blokdyk

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