UK Lloyds TPD, GQD Currencies

On Oct. 9, UK Lloyds issued guidance on TPD and GQD currency reports.

  • Bulletin is to inform managing agents of the change to the RI currency reporting rules.
  • Before 2017, currency segmentation required reports in the inward business currency.
  • From 2017 TPD, this is no longer required and RI currency is the currency of RI policy.
  • In TPD 199, syndicates should only report paid claims as they are settled, not cashflow.
  • GQD should only report paid claims by their settlement due date, rather than cashflow.
  • 2017 TPD return must be submitted by 2pm on Mar. 20, 2018. GQD is due 2pm Jan. 9.

Regulators UK Lloyds
Entity Types Ins
Reference Y5122, Bul, 10/9/2017
Functions Financial; Operations; Reporting; Risk
Countries United Kingdom
Products Insurance
Regions EMEA
Rule Type Guidance
Rule Date 10/9/2017
Effective Date 10/9/2017
Rule Id 35423
Linked to N/A
Report Issue 10/15/2017
Report Section UK

Last substantive update on 10/09/2017