The rule in plain words
Gross written premiums for savings and investments should be consistent with IR.14.01
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02Add up the parts in your return and compare the result with the total.
- 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.
- 04The Bank of England allows a small rounding difference, worked out from the decimals each value is reported with.
- 05It runs only when your filing indicators mark IR.05.10 and IR.14.01 as reported.
- 06This 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
Excess capital generation (IR.05.10.01.01)
Row
- R0600Savings & investments premiums
Column
- C0010Most recent reporting period
Life obligations analysis (IR.14.01.01.01)
Column
- C0060Written premiums
Which returns it applies to
Line4 Check runs it on annual solo (ARS) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual solo (ARS) 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}.
{t: IR.05.10.01.01, r: R0600, c: C0010, z: Z0001} = sum({t: IR.14.01.01.01, c: C0060, filter: matches([s2c_dim:IP], "^1$[0-9]{2}(/\+/.*)?$")})Other rules on Excess capital generation (IR.05.10)
- Gross written premiums for individual pensions should be consistent with IR.14.01 (IR_bv2162)
- Gross written premiums for corporate pensions should be consistent with IR.14.01 (IR_bv2163)
- Gross written premiums for protection should be consistent with IR.14.01 (IR_bv2164)
- Gross written premiums for annuities should be consistent with IR.14.01 (IR_bv2165)
- Excess capital generation: gross written premiums = sum of components (IR_bv2093)Blocking
- Excess capital generation: excess capital end of period = excess capital start of period + change during period (IR_bv2092)Blocking
- Excess capital generation total change = sum of components (IR_bv2091)Blocking
- Excess capital generation total of transfers and funding must be equal to the sum of its components (IR_bv2084)Blocking
Every Solvency UK rule on IR.05.10
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.