Additional Support for Lloyd’s Reporting Requirements
Lloyd's Managing Agents face a number of investment portfolio reporting challenges, including completing Lloyd's Quarterly Monitoring Returns, maintaining Solvency II compliance, and managing Lloyd's QAD templates. Clearwater is excited to announce new key functionality built with these challenges in mind.
QMA Classifications and Standard Reports
Lloyd's Managing Agents are required to complete the Quarterly Monitoring Returns and their investment templates.
Many Managing Agents have no other option but to complete these templates manually, using Excel functions or building QMA classifications into their General Ledger (GL). Clearwater recently released new functionality that enables clients to eliminate Excel manipulation and GL extracts from their processes, and instead quickly and automatically populate their QMA templates. This will save extensive employee time and manual efforts, while increasing data accuracy.
Specifically, our Lloyd's clients can now use the following classifications to complete their QMA returns:
- QMA 003: Cash flow statement
- QMA 114: US dollar denominated investment return
- QMA 201: Assets
- QMA 212u: Concentration of Investment holdings
- QMA 217: Schedule 3 Investment analysis – Cost
- QMA 218u: Investment analysis – asset classification
- QMA 219u: Investment analysis – credit classification
- QMA 415: Sensitivity Analysis
- QMA 416: Sensitivity Analysis – prior year
- QMA 420: Credit risk – ratings
- QMA 421: Credit risk – ratings – prior year
- QMA 440: Fair value hierarchy
- QMA 441: Fair value hierarchy – prior year
- QMA 460: Liquidity risk – Maturity profiles
- QMA 461: Liquidity risk – Maturity profiles – prior year
- QMA 465: Derivative information
- QMA 466: Derivative information – prior year
- QMA 410: Net Investment income recognised as profit or loss
- QMA 411: Net Investment income recognised as profit or loss – prior year
- QMA 425: Credit Risk – Aging and Impairment
- QMA 426: Credit Risk – Aging and Impairment – prior year
- QMA 531: Analysis of Derivatives Contracts
NACE Codes Now Available to Clearwater Clients
NACE codes are a requirement for the Issuer Sector on Lloyd's QAD 230. As the Lloyd's market is already aware, these codes have proven especially difficult to obtain. Clearwater is excited to continue its commitment to providing best-in-class solutions for the Lloyd's market.
Additional communication will follow as NACE codes are made available. For more information on how Clearwater is helping Lloyd's Syndicates meet the demands of Solvency II, Lloyd's reporting, and other investment challenges, please contact Clearwater for further details.