RETACC Reinsurance technical account

TBG8 Insurance

The RETACC is used by the sender to report to the receiver the latter's position in the sender's books with respect to one single reinsurance contract. It is in this sense a type of account for services rendered, and may initiate a payment flow either directly or via a periodical overview statement.

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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 technical account message is RETACC. Note: Reinsurance technical account messages conforming to this document must contain the following data in segment UNH, composite S009: Data element 0065 RETACC 0052 D 0054 21A 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 9

    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.

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

  4. A segment to specify the message transaction date, accounting period, accounting year, accounting periodicity.

  5. A segment to provide general message information, and/or narrative descriptions of references or account period given.

Detail

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

    1. A segment to specify the account rendering currency (statement currency) of the sub-account, and if required the settlement currency and the exchange rate used to convert from original account currency into settlement currency.

    2. A segment used to tie the sub-account to a specific reference and to additionally identify the layer or surplus number of the contract for which data are rendered.

    3. A segment used to provide free text information regarding the contract section reported in the sub-account (particularly for facultative contracts).

    4. Segment group 3
      Repeat 999

      1. A segment to specify the accounting entries or the sub- account balance(s).

      2. A segment to specify pertinent dates and periods relating to the entry.

      3. A segment to specify the percentage used to calculate the entry, and/or the receiver's share percentage.

      4. A segment to give an indicator to specify the way to process the entry.

      5. A segment to identify the geographical scope to which the entry pertains or - for facultative accounts - the location of the risk.

      6. A segment used to provide free text information regarding the entry. More particularly, the segment can be used to give loss details or additional information concerning bucket entry codes.

      7. Segment group 4
        Repeat 9

        1. A segment to specify a reference to a supporting document or message and/or (in case of losses reported), the event reference.

        2. A segment to specify the date of transaction of the supporting document or message.

        3. A segment to identify the means by which the referenced document or message was transmitted.

        4. A segment used to provide free text information regarding the document or message that is referenced.

  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 5
    Repeat 99

    1. A segment to specify the total account balances per settlement currency, or the possible breakdowns e.g. the amounts due in instalments, or per payment means or combined.

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

    3. Segment group 6
      Repeat 999

      1. A segment to identify the bank where the letter of credit was issued, the payer's and beneficiary's bank, the assuming company, the multiple cedants involved.

      2. A segment used to specify the share of the party in the broker's order or in the 100% of the contract, expressed as a percentage.

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

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

      5. A segment to specify the share amount of the party specified.

    4. A segment to specify the means of settlement.

    5. A segment to specify references related to the settlement of the account balance.

    6. A segment to specify pertinent dates and periods relating to the settlement of the RETACC.

  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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