The rule in plain words
R0060=r0070+r0080+r0090+r0100+r110+r0120-r0130-r0140
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.12.06 as reported.
The cells it reads
With-profits liabilities and assets (IR.12.06.01.01)
Rows
- R0060Future policy related liabilities
- R0070Future costs of contractual guarantees
- R0080Future costs of non-contractual commitments
- R0090Future costs of financial options
- R0100Future costs of smoothing (possibly negative)
- R0110Financing costs
- R0120Other with-profits insurance liabilities
- R0130Planned deductions for guarantees, options and smoothing
- R0140Planned deductions for other costs
Column
- C0030Amount
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}.
{t: IR.12.06.01.01, r: R0060, c: C0030} = {t: IR.12.06.01.01, r: R0070, c: C0030} + {t: IR.12.06.01.01, r: R0080, c: C0030} + {t: IR.12.06.01.01, r: R0090, c: C0030} + {t: IR.12.06.01.01, r: R0100, c: C0030} + {t: IR.12.06.01.01, r: R0110, c: C0030} + {t: IR.12.06.01.01, r: R0120, c: C0030} - {t: IR.12.06.01.01, r: R0130, c: C0030} - {t: IR.12.06.01.01, r: R0140, c: C0030}Other rules on With-profits liabilities and assets (IR.12.06)
- With-profits liabilities and assets: R0310=r0060-r0260-r0270-r0280-r0290-r0300 (IR_bv1175)Blocking
- With-profits liabilities and assets: R0020 c0030 >= 0 (IR_bv1071)
- With-profits liabilities and assets: R0010=r0020+r0050 (IR_bv0983)Blocking
- With-profits liabilities and assets: R0250=r0010-r0200-r0210-r0220-r0230-r0240 (IR_bv0982)Blocking
Every Solvency UK rule on IR.12.06
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.