The London Market Group (LMG) has updated its Core Data Record to add new data fields for treaty reinsurance business, broadening a standard that has so far focused on open market and facultative placements.
The revision, developed by the LMG's Data Council, followed a consultation that drew input from 68 organizations across the Lloyd's and London markets.
The earlier CDR v3.2 covered open market and facultative reinsurance. The new v3.3 placing Core Data Record extends to both proportional treaty business, such as quota share and surplus, and non-proportional treaty business, including excess of loss and stop loss.
The updated version also incorporates minor adjustments to the previously published v3.2 and is accessible through the LIMOSS Market Business Glossary.
Joe Brace (pictured above), a member of the Data Council and operations director of the Lloyd's Market Association (LMA), said the treaty extensions mark further progress toward implementing the standard across all placement types.
"It is imperative that we as a market buy into the importance of quality data, collected as early as possible in the process," Brace said, adding that principles such as the CDR, MRC, and alignment with ACORD standards underpin the future of insurance as a digitally traded business.
Brace has separately flagged the rollout of the Core Data Record as a core priority for the LMA in 2026, with the association set to support continued adoption across the vendor ecosystem as more placement types come into scope.
Kirstin Duffield, chair of the CDR working groups on behalf of the LMA and chief executive of Morning Data, part of Verisk, said feedback on the Claims CDR is being incorporated following a market consultation that closed earlier in the year.
Work is also underway to extend the placing record to cover the Agreement of Delegation for Binders, Lineslips, and Digital Platform contracts, with results expected later this year, Duffield said. That effort will align closely with work on the Computable Binding Authority Agreement (CBAA).
Troy Hughes, chair of the Ruschlikon Placing Steering Committee and global director of eCommerce at Aon, described the treaty reinsurance expansion as a significant milestone for the market.
"Expanding the CDR to include treaty reinsurance in alignment with the ACORD standard is a significant milestone," Hughes said. He added that the enhancement will help market participants advance digital trading of placing information more effectively as adoption accelerates.
The push by the LMG sits within a broader modernization drive in London aimed at standardizing data capture at the point of placement, reducing manual processing, and improving downstream accuracy as treaty reinsurance and other lines move toward fuller digital trading.
