IVASS published Provision No. 139 of 23 November 2023 regarding the determination of the percentage for the calculation of the management charges to be deducted from the insurance premiums collected in 2024 for the calculation of the supervisory fee on insurance and reinsurance.
Based on the financial statements of insurance companies for the year 2022, the average impact of management expenses on direct labor premiums in the damage and life insurance sectors was 4.37%. As a result, for the determination of the supervisory contribution on insurance and reinsurance activities in the year 2024, the rate for deducting management expenses from collected premiums is set at 4.37%.
This decision is officially published in the Official Gazette of the Italian Republic, the IVASS Bulletin, and made available on the IVASS website.
Other Features
budget
companies
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insurance
reporting
standard
statistics
Date Published: 2023-11-23
Regulatory Framework: Private Insurance Code
Regulatory Type: regulation
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