Content of the submission and solvency capital requirement - non-life and health catastrophe risk: values must agree (IRR.01.01, IRR.27.01, Bank of England rule IR_bv0717_01)

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 IRR.01.01 and IRR.27.01 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on annual solo (ARS) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual solo (ARS) returns, as a blocking check.

The Bank’s own words and formula

In the Bank of England’s list of validations, word for word:

The item "Diversification between perils" reported in IRR.27.01 - Solvency Capital Requirement - Non-life and Health catastrophe risk [RFF/MP/RM] should be equal to the difference between "Natural catastrophe risk" and the sum of all risks reported.

Other rules on Content of the submission (IRR.01.01)

Every Solvency UK rule on IRR.01.01

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.