Premiums written: net = gross - reinsurer's share (IR.05.03, Bank of England rule IR_bv2003)

The rule in plain words

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.05.03 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG) and annual group (ARG) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly solo (QRS), quarterly group (QRG) and annual group (ARG) 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.

Other rules on Life income and expenditure (IR.05.03)

Every Solvency UK rule on IR.05.03

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.