Industry Funding Levy Information for Life, Non Life and Reinsurance Undertakings
B1 - Life undertakings with Irish head office and life insurance undertakings authorised in another non-EEA state operating in Ireland
B4 - Non life undertakings with Irish head office
B7 - Reinsurance undertakings with Irish head office
Each of the above institutions shall be liable to pay the levy contribution corresponding to its impact category as set out in Table 1 below:
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Table 1 – Insurance Undertakings with Irish head offices
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Levy payable per Impact Category
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Insurance Undertakings
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Ultra High
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High
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Medium High
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Medium Low
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Low
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B1
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Life undertakings with Irish head office and life insurance undertakings authorised in another non-EEA state operating in Ireland
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€4,244,931
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€1,926,137
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€440,412
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€87,552
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€27,197
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B4
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Non-life undertakings with Irish head office
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B7
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Reinsurance undertakings with Irish head office
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B2 - Life undertakings authorised in another EEA state operating in Ireland on a branch basis
B3 - Life undertakings authorised in another EEA state operating in Ireland on a cross border basis
B5a - Non life undertakings authorised in another EEA state operating in Ireland on a branch basis that write motor insurance in Ireland
B5b - Non life undertakings authorised in another EEA state operating in Ireland on a branch basis that are not included in B5a
B6 - Non life undertakings authorised in another EEA state operating in Ireland on a cross border basis
Each of the above institutions shall be liable to pay the levy contribution corresponding to its business model as set out in Table 2 below:
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Table 2 – Insurance Undertakings authorised in another EEA state
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Gross Written Premium on Irish risk business or Flat Rate Levy
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Insurance Branches authorised in another EEA state
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GWP > €100m
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GWP €0-€100m
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GWP >€50m
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GWP €0m-€50m
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Flat Levy
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B2
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Life undertakings authorised in another EEA state operating in Ireland on a branch basis
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€220,206
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€20,398
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N/A
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N/A
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N/A
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B3
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Life undertakings authorised in another EEA state operating in Ireland on a Freedom of Services basis*
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N/A
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N/A
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N/A
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N/A
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€20,398
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B5a
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Non life insurance undertakings authorised in another EEA state operating in Ireland on a branch basis that write motor insurance in Ireland
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N/A
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N/A
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€220,206
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€43,776
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N/A
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B5b
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Non life insurance undertakings authorised in another EEA state operating in Ireland on a branch basis that is not included in B5a
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N/A
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N/A
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N/A
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N/A
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€20,398
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B6
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Non life undertakings authorised in another EEA state operating in Ireland on a Freedom of Services basis*
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N/A
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N/A
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N/A
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N/A
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€20,398
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*As insurance undertakings operating in Ireland on a Freedom of Services basis may write Irish risk business, they will be subject to a levy designed to contribute towards the cost of consumer protection regulation. The amount of such levy is as set out in Table 2 above.
Click here to read more on the annual levying process.