Most risk reports look like risk reports. Heat maps, registers, attestations. The business nods and gets on with its day. CoVi Analytics puts the risk inside the numbers each team already runs on, so the risk team's work shapes the decisions.
Halden is a fictitious Lloyd's managing agent. We run it in CoVi Analytics and publish its reports one at a time.
Risk teams spend weeks scoring risks on a 5×5 grid. The business has already put a number on most of the same risks. The capital model says where the money is at risk, and it has already gone to Lloyd's. Each year it goes in the Lloyd's Capital Return, with the SCR split by risk type. Same risks, two languages, and only one of them is in pounds.
A 5×5 heat map. Correct, complete, and easy to skip.
Most of the same risks, already measured in pounds and already sent to Lloyd's.
This is Halden's risk landscape. We pair the capital each class of risk needs with the register behind it. So every risk is read in context: capital, appetite, controls. That is Context Visualised.
ClickTap to explore Halden's risk landscape
Why outside appetite Large loss ratio to date, 18.1% (Underwriting)
Catastrophe: includes a £10m catastrophe buffer add-on (3% of SCR). Accumulation & aggregation: non-cat accumulations; cat events sit in catastrophe.
Why it needs attention Premium debt over 90 days, 4.2% of GWP (Counterparty)
Why outside appetite Out-of-authority binding, 23 (Operational); Wording exceptions not approved, 4 (Conduct & compliance)
Why within appetite AED duration gap, −0.4 yrs, inside its ±0.5 year band (Market & ALM)
Liquidity: managed through liquidity buffers, not capital.
Why it needs attention Coverage after 1-in-10 year loss, 128% (Capital)
The pill shows appetite status. The badge counts controls that are not fully effective.
Rating shown is residual risk. Likelihood A to E, impact 1 to 5, after controls.
Bars share one scale: the £330m ultimate SCR.
Source: risk taxonomy, risk register, controls by team, risk appetite, Lloyd's Capital Return (uSCR)
Are we on plan? Can we survive the bad years? Begin with the question, then put the risk inside the answer.
Take what has already gone to Lloyd's, and the meeting opens on what to do.
A map the business works from keeps pace with the work. A procedure filed and forgotten does not.
Plug in the Copilot your firm already uses. It drafts, your people approve.
Client work sits behind NDAs, so we built our own managing agent and run it in CoVi Analytics. We publish its reports one at a time. Each one starts with a question the board actually asks, and ends with what we did about the answer.
Each use case takes a different kind of firm, sets up its risks, processes and returns, and shows how we would run it, including how much effort it took.
A Lloyd's managing agent: two syndicates, an owned coverholder in Dubai, fronting partners
A UK company market insurer with its own balance sheet
Ridgeway Underwriting: the other side of Halden's delegated authority story
A principal firm and its appointed representatives, run as one network.
An insurer working under the UAE's new regime. Federal Decree-Law No. 6 of 2025 brought insurance under the Central Bank law.
For fifteen years I have led and rebuilt risk functions, as interim Head of Risk at Liberty Mutual, Markel and Bupa, and before that on Solvency II at the Bank of England. Again and again I helped risk teams build reports the business never read.
Good risk teams were treated as a roadblock when they had the most useful view in the room. After ten years building CoVi Analytics, we are putting all of it in the open. If you want to be the risk team the business calls first, this is for you.
Waleed Sarwar, Founder, Context Visualised
If it would help your business, talk to us. Or follow Halden.
Every decision, in context.
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The first "This month at Halden" arrives on the first Tuesday of the month.
