Lloyd's will tomorrow launch a consultation into its proposed reforms of the market.

Discussions on the the Chairman's Strategy Group, which was originally produced with the help of Bain & Co, have been going on behind the scenes. Now the proposals are being opened up for wider consultation.

A number of proposals, particularly with regard to Names, have been changed ahead of the official consultation.

Voting on the proposals will take place at an EGM on 12 September.