The rule in plain words
IR.02.01 R0544 is equal to IR.17.01 R0260C0180
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The two values must be the same. Find which of the two is right, and correct the other one.
- 03It runs only when your filing indicators mark IR.02.01 and IR.17.01 as reported.
- 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Balance sheet (IR.02.01.01.01)
Row
- R0544Best estimate - non-life
Column
- C0010Solvency II value
Non-life income and expenditure: non-life income, expenditure and business model analysis: reporting period (IR.05.04.01.01)
Row
- R1930Best estimate - gross of reinsurance
Column
- C0015All non-life business (ie excluding annuities stemming from accepted insurance and reinsurance contracts)
A worked example
With simple numbers.
Best estimate - non-life, Solvency II value must then be 1,200.
A file that reports 1,200 passes. One that reports 1,300 fails, by 100.
The numbers are illustrative.
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 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.02.01.01.01, r: R0544, c: C0010} = {t: IR.17.01.01.01, r: R0260, c: C0180}Other rules on Balance sheet (IR.02.01)
- IR.02.01.02.01 R0544 is equal to IR.17.01.02.01 R0260C0180 (IR_bv2630_02)Blocking
- IR.02.01 R0544 is equal to IR.17.01 R0260C0180 (IR_bv2630_03)Blocking
- IR.02.01 R0554 is equal to IR.17.01 R0280C0180 (IR_bv2631_01)Blocking
- IR.02.01 R0554 is equal to IR.17.01 R0280C0180 (IR_bv2631_02)Blocking
- Balance sheet and own funds: values must agree (IR_bv2014)Blocking
- Deferred tax liability consistent between IR.02.01.01.01 and IR.25.06.01.01 (IR_bv1934)Blocking
- Deferred tax asset consistent between IR.02.01.01.01 and IR.25.06.01.01 (IR_bv1933)Blocking
- The item "Total Non-Life obligation" reported in Non-Life Technical Provisions should be equal to the sum of the relevant LoB (IR_bv1885_02)Blocking
Every Solvency UK rule on IR.02.01
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.