Dear Broker,

 

We would like to remind you of the upcoming statutory change to the Insurance Compensation Fund (ICF) levy, which will take effect on 1 January 2026.

 

From this date, the ICF levy will reduce from 2% to 1%, and this will apply to all applicable insurance premiums from that date onward.

Currently, we charge a 5% levy on the premium for all Aviva Insurance Ireland DAC products. This consists of:

  • 3% Government Stamp Duty
  • 2% ICF levy

Products that are exempt from the levy are:

- Engineering Special Service JA

- Marine Cargo MA

- Marine (Renewables) MB

- Craft NP

 

From 1st January 2026, all applicable transactions will be charged a 4% levy (3% stamp duty + 1% ICF).

Here’s how this change will be applied to transactions:

  1. Transactions with an effective date on or after 01/01/2026 will be charged the new 4% levy.
  2. Transactions with an effective date up to and including 31/12/2025 will be charged the current 5% levy.

For more details and examples of how this change will apply across different transaction scenarios, please refer to the attached guide, Click HERE.

 

Thanks for your support with this. If you have any questions about this change, please contact your Aviva BDM. 

 

Kind regards,

Stephen McGerr
Sales Director

Aviva Insurance Ireland DAC