The rule in plain words
The item "Country of residency" should be reported in Share of reinsurers (S.31.01) [including Finite Reinsurance and SPV's]
EIOPA writes it out as separate checks, one for each table or return it covers. Line4 Check runs two of them (BV934-1 and BV934-2), and a failure names the one that failed.
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark S.31.01 as reported.
- 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.
The cells it reads
Share of reinsurers (including finite reinsurance and SPV's): share of reinsurers (S.31.01.01.01)
Column
- C0100Reinsurance recoverables: Total reinsurance recoverables
Share of reinsurers (including finite reinsurance and SPV's): information on reinsurers (S.31.01.01.02)
Column
- C0200Country of residency
Share of reinsurers (including finite reinsurance and SPV's): share of reinsurers (S.31.01.04.01)
Column
- C0100Reinsurance recoverables: Total reinsurance recoverables
Share of reinsurers (including finite reinsurance and SPV's): information on reinsurers (S.31.01.04.02)
Column
- C0200Country of residency
Which returns it applies to
Line4 Check runs it on annual solo (ARS), annual group (ARG) and annual branch (ARB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to annual group (ARG), annual ECB solo (AES), annual ECB branch (AEB), annual solo (ARS) and annual branch (ARB) returns, as a warning.
EIOPA’s own words and formula
In EIOPA’s list of validations, word for word:
The item "Country of residency" should be reported in S.31.01 - Share of reinsurers [including Finite Reinsurance and SPV's].
Show the formulaShowHide
EIOPA's formula, for BV934-2. Cells are written as {t: table, r: row, c: column}.
if (not(isNull({t: S.31.01.01.01, c: C0100, z: Z0001}))) then not(isNull({t: S.31.01.01.02, c: C0200})) else true()BV934-1:
if (not(isNull({t: S.31.01.04.01, c: C0100, z: Z0001}))) then not(isNull({t: S.31.01.04.02, c: C0200})) else true()Other rules on Share of reinsurers (including finite reinsurance and SPV's) (S.31.01)
- Country of residency should be reported in Share of reinsurers [including Finite Reinsurance and SPV's] (BV935)
- There is at least one reinsurer reported in Table 1 of S.31.01 that is not reported in Table 2 of S.31.01 (BV1290)Blocking
- There is at least one reinsurer reported in Table 1 of S.31.01 that is not reported in Table 2 of S.31.01 (BV1291)Blocking
- Value of "Adjustment for expected losses due to counterparty default" should be negative (BV1614)
- Value of "Adjustment for expected losses due to counterparty default" should be negative (BV1615)
- Item "Reinsurance recoverables: Total reinsurance recoverables" should always be provided (BV1616)
- Items "Reinsurance recoverables: Total reinsurance recoverables" and "Legal name of reinsured undertaking" should always be provided (BV1617)
- Items "Legal name reinsurer" and "Type of reinsurer" should always be provided (BV1618)
Every Solvency II rule on S.31.01
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.