The rule in plain words
Reinsurance recoverables life excl. linked must be consistent between IR.02.01 and IR.12.01
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 IR.02.01 and IR.12.01 as reported.
The cells it reads
Balance sheet (IR.02.01.07.01)
Row
- R0315Life and health similar to life, excluding index-linked and unit-linked
Column
- C0010Solvency II value
Life technical provisions (IR.12.01.01.01)
Row
- R0080Total Recoverables from reinsurance/SPV and Finite Re after the adjustment for expected losses due to counterparty default
Columns
- C0020Index-linked and unit-linked insurance
- C0070Total life and health
Which returns it applies to
Line4 Check runs it on annual third-country branch (ARB) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual third-country branch (ARB) 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}.
{t: IR.02.01.07.01, r: R0315, c: C0010} = {t: IR.12.01.01.01, r: R0080, c: C0070} - {t: IR.12.01.01.01, r: R0080, c: C0020}Other rules on Balance sheet (IR.02.01)
- Reinsurance recoverables life excl. linked must be consistent between IR.02.01 and IR.12.01 (IR_bv0261_01)Blocking
- Reinsurance recoverables life excl linked must be consistent between IR.02.01 and IR.12.01 (IR_bv0261_05)Blocking
- Balance sheet: transitional (TMTP) >=0 (IR_bv0263_01)Blocking
- Balance sheet: transitional (TMTP) >=0 (IR_bv0263_02)Blocking
- Reinsurance recoverables life linked must be consistent between IR.02.01 and IR.12.01 (IR_bv0264_01)Blocking
- Reinsurance recoverables life linked must be consistent between IR.02.01 and IR.12.01 (IR_bv0264_02)Blocking
- Reinsurance recoverables life linked must be consistent between IR.02.01 and IR.12.01 (IR_bv0264_06)Blocking
- Balance sheet: technical provisions - non-life = best estimate (IR_bv0265_01)Blocking
Every Solvency UK rule on IR.02.01
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.