Life and health SLT technical provisions: values must agree (S.12.01, EIOPA rule BV21)

The rule in plain words

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

This is a blocking check. A return that fails it is normally rejected, so fix it before you submit. It runs only when your filing indicators mark S.12.01 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on annual solo (ARS) and annual branch (ARB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to annual branch (ARB), annual solo (ARS), annual ECB solo (AES) and annual ECB branch (AEB) returns, as a blocking check.

EIOPA’s own words and formula

In EIOPA’s list of validations, word for word:

The item "Best estimate minus recoverables from reinsurance/SPV and Finite Re - total" reported in S.12.01 - Life and Health SLT Technical Provisions must be equal to "Technical provisions - total" minus "Total Recoverables from reinsurance/SPV and Finite Re after the adjustment for expected losses due to counterparty default" from "Technical provisions calculated as a whole" and "Gross best estimate".

Other rules on Life and health SLT technical provisions (S.12.01)

Every Solvency II rule on S.12.01

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.