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 19B 0051 UN

    1. Data element S009/0057 is retained for upward compatibility. The use of
    S016 and/or S017 is encouraged in preference.
    2. The combination of the values carried in data elements 0062 and S009 shall
    be used to identify uniquely the message within its group (if used) or if
    not used, within its interchange, for the purpose of acknowledgement.

  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.

    1. 0062, the value shall be identical to the value in 0062 in the
    corresponding UNH segment.
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