PRA consults on fees and levies for insurers and designated investment firms

PRA has published a consultation paper on model transaction fees, fees and FSCS levies for insurers and fees for designated investment firms. The consultation paper is relevant to  insurers and designated investment firms, as well as firms which have, or intend to apply in the future for, Solvency 2 or CRR models.

The consultation paper sets out PRA’s proposals relating to:

  • Periodic fees for designated investment firms and insurers.
  • Periodic fees and FSCS levies for insurers (these proposals are relevant to insurance firms falling within FSCS levy classes B1 (general insurance) and C1 (life insurance), the FSCS Ltd as scheme manager, the Society of Lloyd’s and policyholders.)
  • Fees in relation to models.

PRA asks for comments by 24 October 2017.