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:

Table 1 – Insurance Undertakings with Irish head offices

 

Levy payable per Impact Category

Insurance Undertakings

Ultra High

High

Medium High

Medium Low

Low

B1

Life undertakings with Irish head office and life insurance undertakings authorised in another non-EEA state operating in Ireland

 

 

 

 

€4,244,931

 

 

 

 

€1,926,137

 

 

 

 

€440,412

 

 

 

 

€87,552

 

 

 

 

€27,197

B4

Non-life undertakings with Irish head office

B7

Reinsurance undertakings with Irish head office

 

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:

Table 2 – Insurance Undertakings authorised in another EEA state

 

Gross Written Premium on Irish risk business or Flat Rate Levy

Insurance Branches authorised in another EEA state

GWP > €100m

GWP €0-€100m

GWP >€50m

GWP €0m-€50m

Flat Levy

B2

Life undertakings authorised in another EEA state operating in Ireland on a branch basis

€220,206

€20,398

N/A

N/A

N/A

B3

Life undertakings authorised in another EEA state operating in Ireland on a Freedom of Services basis*

N/A

N/A

N/A

N/A

€20,398

B5a

Non life insurance undertakings authorised in another EEA state operating in Ireland on a branch basis that write motor insurance in Ireland

N/A

N/A

€220,206

€43,776

N/A

B5b

Non life insurance undertakings authorised in another EEA state operating in Ireland on a branch basis that is not included in B5a

N/A

N/A

N/A

N/A

€20,398

B6

Non life undertakings authorised in another EEA state operating in Ireland on a Freedom of Services basis*

N/A

N/A

N/A

N/A

€20,398

*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.