On Dec. 13, UK Lloyds issued details of schedule 3 reporting facility.
UK Lloyds issued bulletin Y5449 on schedule 3 reporting for corporate members, inviting them to subscribe to the central Schedule 3 facility for the 2024 year end.
Follows UK Lloyds Dec. 2022, detailed the schedule 3 reporting facility, see #156673.
Schedule 3 Facility
Corporate members require information not available in syndicate accounts/quarterly monitoring return extracts in to prepare accounts as per schedule 3 requirements.
To help them complete statutory accounts, UK Lloyds operate a central facility with information collected in schedule 3 format for each syndicate from managing agents.
This is part of Q4 QMA return - it is then processed and made available to relevant corporate members in the form of a statement reflecting their syndicate participations.
Corporate members wishing to subscribe to the service must pay a fee, calculated by highest overall premium limit (OPL) & number of syndicates in which they participate.
Bulletin table 2024 facility sets out fees, which are the same as in the previous year.
Data is expected to be available to subscribers in the week commencing Apr. 14, 2025.
Effectiveness
Corporate members wishing to subscribe to the service should complete the application form, which must be submitted by Jan. 17, 2025.
