Non-life technical provisions: values to report together, or not at all (IR.17.01, Bank of England rule IR_bv2152)

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.

What to do if your return fails it

1. 01Open the table below and find the cells the rule reads.
2. 02Report these values together, or leave them all out.
3. 03It runs only when your filing indicators mark IR.17.01 as reported.
4. 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

Which returns it applies to

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

The Bank’s own words and formula

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

For each LoB and Total in IR.17.01.02.01 - Non-Life Technical Provisions , if total best estimate - gross is reported then the corresponding risk margin should also be reported, and for each LoB and Total, if risk margin is reported then the corresponding total best estimate - gross should also be reported.

Other rules on Non-life technical provisions (IR.17.01)

Every Solvency UK rule on IR.17.01

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.