Insurance (Applications and Fees) (Amendment) Regulations, 2013

Summary

This is a short amending regulation issued under the Insurance Law, 2010 that changes Schedule 2 of the Insurance (Applications and Fees) Regulations, 2012, which sets out insurance licence fees. It adds a new fee provision applicable specifically to insurance licensees that are structured as segregated portfolio companies (SPCs) under the Companies Law.

• New fee provision: Inserts a new paragraph into the 'Exceptions' section of Schedule 2 providing that where an insurance licence holder is a segregated portfolio company, that holder must pay, in addition to the standard annual licence fee, an extra annual fee of $250 for each segregated portfolio it maintains.
• Scope of change: The change is purely a fee schedule amendment and does not otherwise alter licensing procedures, application requirements, or other obligations under the parent Regulations.

The Regulations were made in Cabinet on 3 September 2013 and published in the Extraordinary Gazette No. 73 on 11 September 2013.

Key obligations

• Insurance licence holders that are segregated portfolio companies must pay an additional annual licence fee of $250 for each segregated portfolio they maintain, on top of the standard annual licence fee.

Applies to

insurance licensees, segregated portfolio companies holding an insurance licence

Related documents

• This document amends Insurance (Applications and Fees) Regulations, 2012
• This document amends Insurance (Applications and Fees) Regulations (2026 Revision)
• Insurance (Applications and Fees) Regulations (2026 Revision) replaces this document