The rule in plain words
The 'Class Code' reported in column C0010 must be a two digit numeric value
What to do if your return fails it
- 01Open the table below and find the cells the rule reads.
- 02Compare the code or text in your return with the format the rule sets out, character by character, including any prefix and any spaces.
- 03This 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
Assessable mutuals (IR.05.09.01.01)
Columns
- C0030Class of mutual members
- C0040Status of policy year
- C0050Calls made that were due in prior financial years
- C0060Calls made that were due in current financial year
- C0070Deferred / budgeted calls that are due in future years
- C0080Estimated total calls
- C0090Calls not collected
- C0100Assumed reinsurance premiums
- C0110Fixed premiums receivable from mutual members
- C0120Fixed premiums receivable from other than mutual members
- C0130Reinsurance premiums ceded (cumulative)
- C0140Net claims incurred (cumulative)
- C0150Net claims provisions
- C0160Mutual members
- C0170Fixed premium members
- C0180Reinsured members
- C0190Mutual members
- C0200Fixed premium members
- C0210Reinsured members
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}.
matches(dim($v0,$[boec_dim:DG]), "^[0-9]{2}$")Other rules on Assessable mutuals (IR.05.09)
- Assessable mutuals: double, tailing or leading whitespaces are not allowed (IR_bv1679)Blocking
Every Solvency UK rule on IR.05.09
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.