The rule in plain words
If the value in the column "Type of reinsurer" (IR.30.05, C0040) equals "5 - Internal / Intra-group / related party (re)insurance entity, other than where falls into 11,12,13, 15."; "11 - Internal / Intra-group / related party Captive (re)insurance entity"; "12 - Internal / Intra-group / related party Special Purpose Vehicle including sidecars without the option for secondary investment trading", "13 - Internal / Intra-group / related non-state pool legally recognised (re)insurance entity" or "15 - Internal / Intra-group / related party Special Purpose Vehicle including sidecars with the option for secondary investment trading, e.g. catastrophe bonds", then (IR.30.04, "Transaction with related party on an arms-length basis", C0200) should not be option “0 - Not applicable as not between related parties”
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.
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 IR.30.04 and IR.30.05 as reported.
- 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Non-life outwards reinsurance contract reinsurer exposures (IR.30.04.01.01)
Column
- C0200Transaction with related party on an arms-length basis
Reinsurer and collateral provider entity information (IR.30.05.01.01)
Column
- C0040Type of reinsurer or collateral provider
Which returns it applies to
Line4 Check runs it on annual solo (ARS) and annual third-country branch (ARB) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual third-country branch (ARB) and annual solo (ARS) returns, as a blocking check.
The Bank’s own words and formula
The plain words above are the Bank of England’s own, word for word, from its list of validations.
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
if {t: IR.30.05.01.01, c: C0040} = $[boec_s2c_SE:b6] or {t: IR.30.05.01.01, c: C0040} = $[boec_s2c_SE:b10] or {t: IR.30.05.01.01, c: C0040} = $[boec_s2c_SE:b11] or {t: IR.30.05.01.01, c: C0040} = $[boec_s2c_SE:b12] or {t: IR.30.05.01.01, c: C0040} = $[boec_s2c_SE:b14] then {t: IR.30.04.01.01, c: C0200, z: Z0001} != $[boec_s2c_MC:b26] else true()Other rules on Non-life outwards reinsurance contract reinsurer exposures (IR.30.04)
- If "type of collateral" (C0120) is report as 5 - None then the value of collateral (C0190) should be zero (IR_bv0055_01)Blocking
- If the value of collateral (C0190) is zero then "type of collateral" (C0120) should be reported as 5 - None (IR_bv0055_02)Blocking
- Non-life outwards reinsurance contract reinsurer exposures: a conditional check (IR_bv0054_02)Blocking
- Non-life outwards reinsurance contract reinsurer exposures: a conditional check (IR_bv0053)Blocking
- Non-life outwards reinsurance contract reinsurer exposures and reinsurer and collateral provider entity information: a conditional check (IR_bv0059_01)Blocking
- Non-life outwards reinsurance contract reinsurer exposures and reinsurer and collateral provider entity information: a conditional check (IR_bv0059_04)Blocking
- "Value of collateral" (C0190) should not be empty if "Type of collateral (if applicable)" (C0120) are not empty (IR_bv0052)Blocking
- Non-life outwards reinsurance contract reinsurer exposures and 3 other templates: a conditional check (IR_bv1720)Blocking
Every Solvency UK rule on IR.30.04
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.