The rule in plain words
The item "Total amount of Written premiums" in IR.14.01.01.01 - Life obligation analysis, should not be reported for "Annuities stemming from non-life insurance contracts and relating to health insurance obligations" and "Annuities stemming from non-life insurance contracts and relating to insurance obligations other than health insurance obligations" line of businesses
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 table 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.14.01 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
Life obligations analysis (IR.14.01.01.01)
Columns
- C0030Line of business
- C0060Written premiums
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 solo (ARS) and annual third-country branch (ARB) returns, as a warning.
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.14.01.01.01, c: C0030} = $[s2c_LB:x10] or {t: IR.14.01.01.01, c: C0030} = $[s2c_LB:x11]) then isNull({t: IR.14.01.01.01, c: C0060}) else true()Other rules on Life obligations analysis (IR.14.01)
- The item "number of new contracts during year" reported in table Life obligations analysis should be positive (IR_bv0509)Blocking
- The item "number of contracts at the end of the year" reported in table Life obligations analysis should be positive (IR_bv0508)Blocking
- First three characters of IR.14.01 product code must be a three digit number in range 100-999 (IR_bv2148)Blocking
- First three characters of IR.14.01, C0010 are a three digit number in range 100-999 (IR_bv2482)Blocking
Every Solvency UK rule on IR.14.01
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.