EDI LREACT Specification:
The LREACT message is used by companies to exchange insured andpolicy coverage detail for reinsurance purposes. The messagewill be used for both ceded and assumed reinsurance.
The trading partners utilizing the Life reinsurance activitymessage will be direct companies, reinsurance companies,reinsurance intermediaries and retrocessionaires. The messagewill be used to transmit data required by ceding and assumingcompanies to maintain the records on reinsured cessions. Thisdata supports the reinsurer's ability to appropriately accountfor, manage, study, value (reserve) and complete theirfinancial reporting. It also facilitates the reconciliation ofthe reinsurance records in order to maintain the integrity ofthe data between the trading partners.
Accredited Standards Committee X12. ASC X12 Standard [Table Data].
Data Interchange Standards Association, Inc., Falls Church, VA.