Annual Fees

Other Fees

Notes 

1. Fee payable in respect of the Insurance Licence.
   
2. A fee of £7,450 will be due unless the insurance manager demonstrates to the Commission before the fee is due that each insurer for which he acts underwrites only the risks of the insurer's parent, subsidiaries of the insurer's parent, a joint venture where the risks underwritten by the insurer are limited to the equity interest held by the insurer's parent in that company or risks which are fully reinsured by the insured and the insurer's parent, where the parent is an insurance company.
   
3. For the avoidance of doubt, transformer cells are cells within a Protected Cell Company whose primary purpose is to enable transactions between the Capital and Insurance markets by converting contracts written on ISDA documentation into contracts written on traditional insurance documentation or vice versa.
    
4. For a Life Insurer closed to new business, the annual fees are:

   Based on net policyholder liabilities	​Fee
   ​Less than £1	​£   5,040
   ​£1 - £9,999,999	​£   6,530
   ​£10m - £99,999,999	​£   8,770
   ​£100m+	​£ 12,490

    
5. Non-commercial mutual, provident or friendly societies pay a fee of £420.

    
6. Fee payable where licensed under the POI Law for either or both of the restricted activities of promotion, advising and no other restricted activities in respect of "Category 1: Collective Investment Schemes."