RIC GUI – Regulatory reporting for Luxembourg insurance companies – S 2.18, S 2.19, S 4.3 & TPTASS
BCL
These instructions specify the information to be collected, the formats and rules for the reports to be created, as well as the procedures for transmitting these reports to the BCL.
U IT offers a solution called “RIC GUI” for the input and generation of reports, along with full technical expertise for configuring and supporting the secure channel used to transmit them.
The remainder of this article describes the conditions and purpose of this data collection, details the reports concerned, and provides a practical overview of how to generate and submit these reports in Luxembourg.
Conditions and purpose of this data collection
RIC reporting applies to insurance companies established in Luxembourg, or to a representative sample selected by the BCL covering at least 95% of the market.
The main objectives are to:
Provide the BCL and the ECB with reliable statistical data on insurers’ assets, liabilities, and risks
Monitor the evolution of balance sheets and financial portfolios based on economic criteria (country, currency, sector, maturity)
Analyze in a granular way the securities held or issued by insurance companies
Strengthen prudential supervision, data consistency, and sector transparency
The data collected is integrated into the Eurosystem’s statistical framework under the responsibility of the BCL.
S 2.18-L – Quarterly statistical balance sheet
This report is the central pillar of the statistical framework applied to insurance companies. It provides a complete and structured view of insurers’ balance sheets, detailing assets and liabilities across multiple dimensions such as instrument type, economic sector, country, currency, and other relevant classifications.
Collected on a quarterly basis, this report targets a representative sample of insurers selected by the Banque centrale du Luxembourg (BCL), ensuring broad and relevant coverage of the national market. Data must be submitted within 20 working days after the end of the quarter and is subject to strict consistency checks, particularly in relation to other regulatory reports such as TPTASS and S 2.19-L.
Its main objective is to provide the BCL and supervisory authorities with a reliable basis for producing accurate macroeconomic statistics, analyzing the financial stability of the sector, and monitoring insurers’ exposures and risks. As such, this report is a fundamental tool for ensuring transparency and consistency in the financial data of Luxembourg’s insurance sector.
S 2.19-L – Valuation effects
This report complements the S 2.18-L statistical balance sheet by providing an analysis of valuation changes in assets and liabilities between two periods. It distinguishes effects related to market fluctuations, exchange rate variations, and other valuation adjustments.
Also submitted quarterly within 20 working days, S 2.19-L must be fully consistent with the S 2.18-L balance sheet to ensure a reliable and accurate interpretation of real economic developments, independent of purely accounting or technical effects.
This distinction is essential to understand the composition of balance sheet changes, measure the impact of market conditions on insurers’ positions, and support the BCL’s analysis of the sector’s financial resilience.
S 4.03-L – Premiums, claims, and commissions
This is an annual report focusing on insurers’ key operational flows. It covers premiums received, claims paid, and commissions paid or received.
This information enables the BCL to monitor the economic performance of insurance companies, identify market trends, and assess the relationship between operational flows and balance sheet positions.
It therefore serves as a strategic management and market monitoring tool, helping to evaluate sector dynamics and anticipate potential imbalances or financial risks.
TPTASS – Security-by-security reporting
This is a highly detailed monthly report covering each financial instrument held or issued by selected insurers. Each position is individually identified, most often via an ISIN code, and linked to the corresponding items in the statistical balance sheet.
This report provides precise information on the type of instrument, sector and country of exposure, as well as the currency and economic nature of each position.
It plays a crucial role by enabling fine-grained portfolio analysis, ensuring consistency with the quarterly S 2.18-L balance sheet, and feeding risk management and financial supervision models. Thanks to its granularity, it is an essential pillar for transparency and reliability in regulatory reporting, offering a detailed view of Luxembourg insurers’ financial exposures.
In practice
If you are required to submit such reports to the BCL, two aspects must be considered:
Data input and report generation
Transmission to the BCL
Report creation
Since 2016, U IT has offered a solution for inputting and generating the four reports. This solution is called “RIC GUI” (“RIC” for “Reporting Insurance Corporations” and “GUI” indicating an interactive tool – Graphical User Interface).
The solution is Excel-based: four separate tools for the four types of reports, sold under an annual license that varies depending on the number of entities subject to reporting.
Key strengths of the solution include:
Inclusion of numerous additional controls beyond those required by the BCL, minimizing feedback and corrections
Annual updates and regular additions of input rules and controls based on BCL feedback
Dedicated features (cross-checks, quick updates, auto backups, etc.)
Use of Excel (easy to install and widely appreciated by users)
High-quality support
More information is available on our website.
Report submission
Two options are available: SOFiE Sort, developed by Worldline, or e-file, developed by Fundsquare (FE Fundinfo). These two tools are referred to as “secure channels” and have been in place since 2008 following a reform of financial data collection from banks by the CSSF.
It is therefore necessary to open an account with one of these applications in order to transmit reports to the BCL.
U IT specializes in the SOFiE Sort application and offers the following services:
Installation, configuration, and setup of a SOFiE Sort account
Certificate renewal (SSL, LuxTrust)
Automation (batch mode)
Any other technical assistance and/or troubleshooting (remote or on-site)
If you need to submit these reports for your company, group, or clients, we invite you to contact us. We will take the time to answer all your questions and help you make the best choice.