Review

Deliver new risk assessment and reporting framework, including new risk reporting tool.

Framework established. Reporting tool in operation, initially for Amlin London but roll out to the wider Group expected by the end of 2009.

Develop Enterprise Risk Management benchmarking reporting from new risk reporting tool and DFA model.

High level risk dashboard is completed and reported quarterly to executive management, Risk Committee and Audit Committee. This is now produced on a quarterly basis.

Improve aggregate data capture across all relevant classes of business so that Amlin has an increased capability and enhanced reporting against exposure limits.

Aggregate data capture enhanced across classes, increasing modelling and reporting capabilities.

Develop investment risk management capability following recruitment of Head of Investment Risk.

Improvements made to investment risk capability and analysis, with further improvements to modelling anticipated in 2009.

Preparation for Solvency II including:

• Agreement of more granular risk appetite and development of a more sophisticated modelling and reporting system to monitor risk against agreed appetite.
• To complete roll out of new risk reporting system.
• Implement divisional and consolidated Group reporting for risk.
• Further development of market risk modelling capability.