Follow Halden.
We add findings and actions as each quarter turns. Follow Halden to see them as they land.
Halden
Nineteen questions a board asks. One firm that answers them in the open.
Halden is a fictitious Lloyd's managing agent, with no connection to Lloyd's. Context Visualised runs it in CoVi Analytics, in the open, because client work sits behind NDAs. Each report starts with a question a board asks and ends with what was done about it, or what is being watched.
The questions and the report layouts are real.
Worked example · Halden · 2027 plan
Lloyd's managing agent
Halden
£750mgross written premium, 2027 plan
Syndicate 9146
£500m
Property, specialty, reinsurance and SME cyber
- Owned coverholder Dubai, on the Lloyd's platform in the DIFC Writes for Syndicate 9146 about£35m2027 plan
- Fronting insurer UAE partner Fronts MENA property
Syndicate 9147
£250m
Casualty and cyber
- Fronting insurer US partner Fronts US E&S casualty
Partners writing into a syndicate. Fronting insurers: 15% of the account.
Shares and totals are rounded and may not sum.
The reports
Start with the question your board is asking.
The question, the board, what it tells us this quarter, what we did about it, and where the numbers come from.
Headlines from Halden, at 30 September 2026. Plan figures are the 2027 plan.
Overview
- Business overviewWhat do we do, and how is it moving?£750mplan for 2027, up 10% on 2026See the report →
- Plan by productWhere is the premium, reinsurance and claims?28%of premium reinsured, 57% planned gross loss ratioSee the report →
- Risk appetiteAre we within appetite?3 of 20KRIs outside appetite, 7 approachingSee the report →
- ORSACan we survive the bad years?116%coverage in the worst stress; £232m loss to break itSee the report →
Risk
- Risk taxonomyWhat could go wrong, and where is the capital?79risks; insurance risk is 74% of the ultimate SCRSee the report →
- Risk registerWhich risks need attention?2high residual risks, both with third partiesSee the report →
- Controls by teamAre our controls working?62%Claims 62% and Delegated authority 67%, the weakest teamsSee the report →
- Emerging risksWhat is coming?12emerging risks, 4 already in the registerSee the report →
- Incident logWhat has gone wrong this year?4open incidents, 3 caused by third partiesSee the report →
Operations
- Process mapHow does the business actually run?2red stops: DA oversight and ReservingSee the report →
- GovernanceWho decides what, and in what order?4committee inputs out of sequence in 2026See the report →
- PoliciesDo our policies hold together?12policies; the delegated authority policy is overdue for reviewSee the report →
- Policy wordingsAre we writing on our own wordings?93.4%on standard wording; 4 exceptions not approvedSee the report →
- ComplaintsWhat are customers telling us?22%upheld; 35% for the UAE fronting partnerSee the report →
- Reporting calendarWhat is due, and is it on track?10returns due in 60 days; Q3 QMA at riskSee the report →
Finance & capital
- Large claimsWhat hit us, and what did reinsurance pay?£172mgross from 8 large losses and cat events, £79.6m netSee the report →
- ReinsuranceHow does our protection respond?7programmes; the cat tower reaches £275mSee the report →
- Investments and ALMDo assets match liabilities?110%asset cover, every currency inside its duration toleranceSee the report →
- Capital and reservingWhat is eating the reserves?£23madverse casualty back bookSee the report →
One email a month: "This month at Halden". Email address only.
Halden is fictitious. Its numbers are illustrative.