RESETT Reinsurance settlement

TBG8 Insurance

A reinsurance settlement message is exchanged by insurers, reinsurers, bureaux, brokers and professional reinsurance intermediaries to send all information that enables to identify, reconcile and set-off technical accounts.

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Header

Position
Segment
Name
Max use

  1. A service segment starting and uniquely identifying a message. The message type code for the Reinsurance settlement message is RESETT. Note: Reinsurance settlement messages conforming to this document must contain the following data in segment UNH, composite S009: Data element 0065 RESETT 0052 D 0054 13A 0051 UN

  2. A segment to give a processing indicator relating to the whole message.

  3. Segment group 1
    Repeat 99

    1. A segment to specify the name and address and the related function of the party involved.

    2. A segment to identify a person or department to whom communication should be directed.

    3. A segment to identify a communication number of a department or a person to whom communication should be directed as identified in the CTA segment.

    4. A segment to specify identifying numbers associated with the named party.

  4. A segment to specify the message transaction date, date as at, statement period, preparation date.

  5. A segment to provide general message information.

Detail

Position
Segment
Name
Max use
  1. Segment group 2
    Repeat 99

    1. A segment to specify the permanent financial account to which the underlying items are pertaining to.

    2. Segment group 3
      Repeat 9999

      1. A segment to give a processing indicator relating to the reporting level of breakdown.

      2. A segment to specify the conditions for payment or the requested conditions for payment.

      3. A segment to specify the name and address and their related function for the parties taking part in the financial transaction.

      4. A segment to specify pertinent date, time and period relating to the entry.

      5. Segment group 4
        Repeat 20

        1. A segment to specify identifying numbers associated with the named transaction.

        2. A segment to identify the means by which the referenced document was transmitted.

        3. A segment to specify the transaction date relating to the reference given.

        4. A segment to give an additional description to the transaction or document referenced.

      6. A segment to give a processing indicator relating to the settlement.

      7. A segment to specify a monetary amount, e.g. permanent financial account amount, sub-total amount, technical transaction amount.

      8. A segment to specify currencies used in the transaction and relevant details for the rate of exchange.

      9. A segment to specify text information regarding the permanent financial account description, the sub-total description, the contract description, the loss or risk details.

      10. Segment group 5
        Repeat 9999

        1. A segment to identify the insurance company, bureau, original insurer, original policy holder, ceding company or broker.

        2. A segment to identify a person or department to whom communication should be directed.

        3. A segment to identify a communication number of a department or a person to whom communication should be directed as identified in the CTA segment.

        4. A segment to specify the party's share in the contract.

        5. A segment to specify references of the party named in NAD.

        6. A segment to give a processing indicator relating to the settlement by specific parties involved in the transaction.

        7. A segment to specify the share amount of the party named in NAD.

  2. A segment used to prevent collisions between the detail and the summary sections of the message.

Summary

Position
Segment
Name
Max use
  1. Segment group 6
    Repeat 99

    1. A segment to specify the settlement amounts or hash-total.

    2. A segment to identify the issuing bank, paying or receiving financial institution, payer, payee.

    3. A segment to specify the conditions for payment or the requested conditions for payment.

    4. A segment to specify references of the party named in NAD.

    5. A segment to specify the dates relating to the settlement.

  2. A service segment ending a message, giving the total number of segments in the message (including the UNH & UNT) and the control reference number of the message.

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