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Reinsurance technical account message
This specification provides the definition of the Reinsurance technical account message (RETACC) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.
1.1. Functional definition
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.
1.2. Field of application
The Reinsurance technical account message may be used for both national and international applications. It is based on universal practice related to administration, commerce and transport, and is not dependent on the type of business or industry.
The RETACC will report technical and financial accounting entries that are informational (i.e. the latter items such as reserves will not impact the balance of the account). In the summary section of the RETACC, the ability is given to split the account balance into sub-amounts using different criteria. Such sub-amounts may be collectable and non- collectable. One may even go a level further and split a non- collectable balance into amounts per company or participant.
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 1.
3. TERMS AND DEFINITIONS
3.1. Standard terms and definitions
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 2.
4. MESSAGE DEFINITION
4.1. Segment clarification
This section should be read in conjunction with the segment table which indicates mandatory, conditional and repeating requirements.
4.1.1. Header section
Information to be provided in the Header section:
0010 UNH, Message header
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:
0020 X GIS, General indicator
A segment to give a processing indicator relating to the whole message.
A group of segments to specify relevant parties for the whole transaction.
0040 NAD, Name and address
A segment to specify the name and address and the related function of the party involved.
0050 CTA, Contact information
A segment to identify a person or department to whom communication should be directed.
0060 COM, Communication contact
A segment to identify a communication number of a department or a person to whom communication should be directed.
0070 RFF, Reference
A segment to specify the references of the party identified in the leading NAD.
0080 DTM, Date/time/period
A segment to specify the message transaction date, accounting period, accounting year, accounting periodicity.
0090 FTX, Free text
A segment to provide general message information, and/or narrative descriptions of references or account period given.
4.1.2. Detail section
Information to be provided in the Detail section:
0110 CUX, Currencies
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.
0120 RFF, Reference
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.
0130 FTX, Free text
A segment used to provide free text information regarding the contract section reported in the sub-account (particularly for facultative contracts).
A group of segments to specify accounting entries for the sub-account, and if required the sub-account balance(s).
0150 MOA, Monetary amount
A segment to specify the accounting entries or the sub-account balance(s).
0160 DTM, Date/time/period
A segment to specify pertinent dates and periods relating to the entry.
0170 PCD, Percentage details
A segment to specify the percentage used to calculate the entry, and/or the receiver's share percentage.
0180 X GIS, General indicator
A segment to give an indicator to specify the way to process the entry.
0190 LOC, Place/location identification
A segment to identify the geographical scope to which the entry pertains or - for facultative accounts - the location of the risk.
0200 FTX, Free text
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.
A group of segments to refer to supporting messages or documents. The segment may equally be used in case of loss amount reporting to specify the event reference.
0220 RFF, Reference
A segment to specify a reference to a supporting document or message and/or (in case of losses reported), the event reference.
0230 DTM, Date/time/period
A segment to specify the date of transaction of the supporting document or message.
0240 COM, Communication contact
A segment to identify the means by which the referenced document or message was transmitted.
0250 FTX, Free text
A segment used to provide free text information regarding the document or message that is referenced.
0260 UNS, Section control
A segment used to prevent collisions between the detail and the summary sections of the message.
4.1.3. Summary section
Information to be provided in the Summary section:
0270 Segment group 5: MOA-GIS-SG6-PAI-RFF-DTM A group of segments that may be used to specify account totals and subdivide them per type of settlement. At the same type this group can be used to break down the account into sub-balances using various criteria, such as collectable or non-collectable, and the embedded group 6 can be used to make breakdowns per party in the underlying market.
0280 MOA, Monetary amount
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.
0290 X GIS, General indicator
A segment to give a processing indicator relating to the settlement.
A group of segments used to make breakdowns of the amount reported, per party in the underlying market.
0310 NAD, Name and address
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.
0320 PCD, Percentage details
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.
0330 RFF, Reference
A segment to specify the references of the party named in the leading NAD.
0340 X GIS, General indicator
A segment to give a processing indicator relating to the settlement by specific parties involved in the transaction.
0350 MOA, Monetary amount
A segment to specify the share amount of the party specified.
0360 PAI, Payment instructions
A segment to specify the means of settlement.
0370 RFF, Reference
A segment to specify references related to the settlement of the account balance.
0380 DTM, Date/time/period
A segment to specify pertinent dates and periods relating to the settlement of the RETACC.
0390 UNT, Message trailer
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.
4.2. Segment index (alphabetical sequence)
4.3. Message structure
4.3.1. Segment table
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