Halden reportsOperations
Halden report · OperationsWho decides what, and in what order?
Through 14 committees that feed one board at Halden. In its 2026 calendar, 4 inputs are out of sequence: 2 met late, and 2 are scheduled after the meeting they feed.
CoVi · System of governanceFictitious
Committees
Halden's system of governance, built by Context Visualised: the committee tree, and the calendar that builds up to each board meeting.
- 14Committees
- 28Meetings in Q4
- 4Committee inputs scheduled after the meeting they feed2 held late in 2026, 2 scheduled
- Board
- Board committees
- Executive
- Management committees
- Working groups
Sets strategy and risk appetite, approves the plan, ORSA and accounts.
Feeds into: Shareholders and Lloyd's
Receives from: Audit committee, Risk & capital committee, Remuneration & nominations, Executive committee
Q4 meetings: 12 Nov, 10 Dec
Financial reporting, reserves, internal and external audit.
Feeds into: Board
Receives from: Reserving committee
Q4 meetings: 5 Nov
Risk profile against appetite, capital, ORSA and stress testing.
Feeds into: Board
Receives from: Reserving committee, Investment committee, Reinsurance security committee
Q4 meetings: 4 Nov
Pay, incentives and board and senior appointments.
Feeds into: Board
Receives from: None (working level)
Q4 meetings: 18 Nov
Runs the business day to day and escalates to the board.
Feeds into: Board
Receives from: Underwriting committee, Conduct & product committee, Operational resilience & IT, Dubai management committee
Q4 meetings: 28 Oct, 25 Nov, 8 Dec
Plan delivery, rate adequacy, large risks and portfolio steering.
Feeds into: Executive committee
Receives from: Large loss committee, DA oversight committee, Reinsurance security committee
Q4 meetings: 15 Oct, 12 Nov, 3 Dec
Agrees reserves and strategy on claims above the large loss threshold.
Feeds into: Underwriting committee, Reserving committee
Receives from: None (working level)
Q4 meetings: 6 Oct, 20 Oct, 3 Nov, 17 Nov, 1 Dec, 15 Dec
Coverholder performance, breaches, audits and renewals.
Feeds into: Underwriting committee
Receives from: None (working level)
Q4 meetings: 8 Oct, 5 Nov, 1 Dec
Approves reinsurers and fronting partners and monitors their security.
Feeds into: Underwriting committee, Risk & capital committee
Receives from: None (working level)
Q4 meetings: 14 Oct
Agrees booked reserves and margin; reports to audit and risk.
Feeds into: Audit committee, Risk & capital committee
Receives from: Large loss committee
Q4 meetings: 21 Oct
Asset allocation, ALM, manager performance and guidelines.
Feeds into: Risk & capital committee
Receives from: None (working level)
Q4 meetings: 27 Oct
Consumer Duty, fair value, complaints and product approval.
Feeds into: Executive committee
Receives from: None (working level)
Q4 meetings: 22 Oct
IT, cyber, outsourcing, change and business continuity.
Feeds into: Executive committee
Receives from: None (working level)
Q4 meetings: 29 Oct
Owned coverholder performance, DFSA matters and local controls.
Feeds into: Executive committee
Receives from: None (working level)
Q4 meetings: 7 Oct, 4 Nov, 2 Dec
Open a committee to see its remit and its sub-committees. Some committees report sideways as well as up: the reserving committee reports to the audit and risk committees, and the large loss committee feeds both underwriting and reserving.
October 2026
- Tue6Large loss committeeReports to Underwriting committee, Reserving committee
- Wed7Dubai management committeeReports to Executive committee
- Thu8DA oversight committeeReports to Underwriting committee
- Wed14Reinsurance security committeeReports to Underwriting committee, Risk & capital committee
- Thu15Underwriting committeeReports to Executive committee Large loss committee · 9 days before DA oversight committee · 7 days before Reinsurance security committee · 1 day before
- Tue20Large loss committeeReports to Underwriting committee, Reserving committee
- Wed21Reserving committeeReports to Audit committee, Risk & capital committee Large loss committee · 1 day before
- Thu22Conduct & product committeeReports to Executive committee
- Tue27Investment committeeReports to Risk & capital committee
- Wed28Executive committee⚠ SequenceReports to Board Underwriting committee · 13 days before Conduct & product committee · 6 days before✕ Operational resilience & IT · scheduled to meet 1 day after Dubai management committee · 21 days before
- Thu29Operational resilience & ITReports to Executive committee
November 2026
- Tue3Large loss committeeReports to Underwriting committee, Reserving committee
- Wed4Dubai management committeeReports to Executive committee
- Wed4Risk & capital committeeReports to Board Reserving committee · 14 days before Investment committee · 8 days before Reinsurance security committee · 21 days before
- Thu5DA oversight committeeReports to Underwriting committee
- Thu5Audit committeeReports to Board Reserving committee · 15 days before
- Thu12Underwriting committeeReports to Executive committee Large loss committee · 9 days before DA oversight committee · 7 days before
- Thu12Board⚠ SequenceReports to Shareholders and Lloyd's Audit committee · 7 days before Risk & capital committee · 8 days before✕ Remuneration & nominations · scheduled to meet 6 days after Executive committee · 15 days before
- Tue17Large loss committeeReports to Underwriting committee, Reserving committee
- Wed18Remuneration & nominationsReports to Board
- Wed25Executive committeeReports to Board Underwriting committee · 13 days before Operational resilience & IT · 27 days before Dubai management committee · 21 days before
December 2026
- Tue1Large loss committeeReports to Underwriting committee, Reserving committee
- Tue1DA oversight committeeReports to Underwriting committee
- Wed2Dubai management committeeReports to Executive committee
- Thu3Underwriting committeeReports to Executive committee Large loss committee · 2 days before DA oversight committee · 2 days before
- Tue8Executive committeeReports to Board Underwriting committee · 5 days before Dubai management committee · 6 days before
- Thu10BoardReports to Shareholders and Lloyd's Remuneration & nominations · 22 days before Executive committee · 2 days before
- Tue15Large loss committeeReports to Underwriting committee, Reserving committee
Chips show each committee's inputs and how many days before the meeting they land. A ✕ marks an input scheduled after the meeting it feeds. At 30 Sep 2026 these meetings are still to come, so they are flagged, not failed.
Build-up to the board
- Board
- Board committee
- ExCo
- Management
- Working group
Out of sequence
Audit committee → Board✕ Late
Board met 12 Mar, but the audit committee met 13 Mar, 1 day later. Move it earlier so its papers can feed in.
- Board
- Board committee
- ExCo
- Management
- Working group
Out of sequence
Every input lands before the meeting it feeds. A clean build-up.
- Board
- Board committee
- ExCo
- Management
- Working group
Out of sequence
Reserving committee → Risk & capital committee✕ Late
Risk & capital committee met 2 Sep, but the reserving committee met 3 Sep, 1 day later. Move it earlier so its papers can feed in.
- Board
- Board committee
- ExCo
- Management
- Working group
Out of sequence
Remuneration & nominations → BoardScheduled
Board meets 12 Nov; remuneration & nominations is scheduled for 18 Nov, 6 days later. Move it earlier so its papers can feed in.
Operational resilience & IT → Executive committeeScheduled
Executive committee meets 28 Oct; operational resilience & IT is scheduled for 29 Oct, 1 day later. Move it earlier so its papers can feed in.
Time runs down the page into the board. Lines flow from each meeting down to the meeting it feeds, so a healthy build-up converges on the board diamond. Red dashed lines run back up: that input landed after the meeting it was meant for. Anything in the shaded band meets after the board.
The board opens on Structure: the committee tree, from working groups up to the board. Calendar and Cascade then show the meeting dates, and where an input lands after the meeting it feeds.
Source: committee terms of reference and the 2026 meeting calendar at 30 Sep 2026.
What it tells us
What it tells us this quarter
- 1 day
The reserving committee met on 3 September, a day after the risk and capital committee it reports to.
- 6 days
Remuneration and nominations meets on 18 November, six days after the 12 November board it feeds.
- 1 day
Operational resilience and IT is set for 29 October, a day after the executive committee it reports to.
What we did
What we did about it
No action in Halden's action log covers the calendar. The board's recommendation for each clash is the same: move the feeding committee earlier, so its papers can feed in.
Sources
Where the numbers come from
Remits, chairs and reporting lines come from each committee's terms of reference. Dates come from the 2026 meeting calendar.
- Board datacommittee terms of reference and the 2026 meeting calendar at 30 Sep 2026
Follow the data
Related reports
One email a month: "This month at Halden". Email address only.
Halden is fictitious. Its numbers are illustrative.