Stamp Duty insurance levies

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Stamp Duty insurance levies

Stamp duty levies are applied to life and non-life insurance premiums, health insurance policies and pensions. In addition, they are applied to policies of insurance other than life insurance. Contributions to the Insurance Compensation Fund are also levied on non-life insurance premiums.

Policies of insurance (non-life)

Stamp Duty per policy: €1

Non-life insurance levy on premiums

Section 125 of the SDCA imposes a levy of 3% on the gross amount received by an insurer in respect of certain non-life insurance premiums.

Exceptions are:

• re-insurance
• voluntary health insurance
• marine
• aviation and transit insurance
• export credit insurance
• certain dental insurance contracts.

The 3% levy applies to:

• premiums received on or after 1 June 2009 in respect of offers of insurance
• notices of renewal of insurance issued by an insurer on or after 8 April 2009.

• The Non-Life Insurance Levy on premiums are collected in conjunction with the contribution to the Insurance Compensation Fund.

Insurance compensation fund

Revenue is authorised to collect the appropriate contribution (section 6 of the Insurance Act 1964 as amended by section 7 of the Insurance (Amendment) Act 2011).

The contribution to the fund should be returned in conjunction with the existing Insurance Levy on premiums.

Levy on certain Life Assurance premiums (for each quarter)

Section 124B of the SDCA provides for a levy of 1% on life assurance premiums commencing with the quarter ending on 30 September 2009.

Levy on health insurers

The Health Insurance (Amendment) Act 2019 amended section 125A of the SDCA to provide for a revised levy on health insurers.

Pension levy

Section 125B SDCA 1999 imposed an annual levy of 0.6% on the market value of assets in pension schemes in each of the years 2011, 2012, 2013 and 2014.

Information regarding filing and payment.