LREACT Life reinsurance activity

TBG8 Insurance

The LREACT message is used by companies to exchange insured and policy coverage detail for reinsurance purposes. The message will be used for both ceded and assumed reinsurance.

The trading partners utilizing the Life reinsurance activity message will be direct companies, reinsurance companies, reinsurance intermediaries and retrocessionaires. The message will be used to transmit data required by ceding and assuming companies to maintain the records on reinsured cessions. This data supports the reinsurer's ability to appropriately account for, manage, study, value (reserve) and complete their financial reporting. It also facilitates the reconciliation of the reinsurance records in order to maintain the integrity of the data between the trading partners.

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Header

Position
Segment
Name
Max use

  1. To head, identify and specify a message.

  2. To indicate the type and function of a message and to transmit the identifying number.

  3. To specify date, and/or time, or period.

  4. To specify currencies used in the transaction and relevant details for the rate of exchange.

  5. To identify a person or a department to whom communication should be directed.

  6. To provide free form or coded text information.

Detail

Position
Segment
Name
Max use
  1. Segment group 1
    Repeat 999999

    1. To identify processing information.

    2. To specify a reference.

    3. To identify a specific attribute.

    4. To specify date, and/or time, or period.

    5. To provide free form or coded text information.

    6. Segment group 2
      Repeat 1

      1. To describe an item in either an industry or free format.

      2. To identify a place or a location and/or related locations.

      3. To provide details relating to the sequence.

      4. To specify currencies used in the transaction and relevant details for the rate of exchange.

      5. To specify information necessary to establish the identity of a party.

    7. Segment group 3
      Repeat 1

      1. To specify percentage information.

      2. To specify information necessary to establish the identity of a party.

      3. To identify a place or a location and/or related locations.

    8. Segment group 4
      Repeat 1

      1. To describe the insurance cover.

      2. To specify percentage information.

      3. To specify employment details.

      4. To specify the agreement details.

      5. To identify a place or a location and/or related locations.

      6. Segment group 5
        Repeat 99

        1. To specify a monetary amount.

        2. To provide details of the function of a monetary amount.

      7. Segment group 6
        Repeat 99

        1. To specify rate information.

        2. To identify a specific attribute.

        3. To specify date, and/or time, or period.

        4. Segment group 7
          Repeat 99

          1. To specify a monetary amount.

          2. To provide details of the function of a monetary amount.

      8. Segment group 8
        Repeat 99

        1. To identify a process.

        2. To identify a specific attribute.

        3. To specify percentage information.

        4. Segment group 9
          Repeat 99

          1. To specify a monetary amount.

          2. To provide details of the function of a monetary amount.

  2. To end and check the completeness of a message.

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