Fees

Service Fee
Licensing
Investment Manager (determined by assets as at December 31, immediately prior to renewal date) 0.10% of assets payable annually
Application
  Within 3 months of Commencement*(both dates inclusive) 4 to 6 months of Commencement*(both dates inclusive) Thereafter
Registration – Trustees per Superannuation Fund or Retirement Scheme $2500 $2500 $5000
Licensing – Administrator or Investment Manager $6250 $12500 $25000
Registration – Superannuation Fund or Retirement Scheme $15000 $15000 $30000
Registration - Responsible officer $2500 $2500 $5000
Other
Each amendment to Registration & Licensing Information $2000    
Each copy of Certificate of Registration or Licence $1000    
* Commencement means the date on which the Regulations come into operation
  Jamaican & Caricom Companies Foreign Companies Associate of Underwriters
Classes of Insurance Business Registration
       
Insurance Life JMD $150000 JMD $150000 JMD $150000
Ordinary Long Term JMD $150000 JMD $150000 JMD $150000
Sickness & Health JMD $150000 JMD $150000 JMD $150000
Liability Insurance JMD $50000 JMD $50000 JMD $50000
Marine, Aviation & Transport JMD $50000 JMD $50000 JMD $50000
Motor Vehicle Insurance JMD $50000 JMD $50000 JMD $50000
Pecuniary Loss Insurance JMD $50000 JMD $50000 JMD $50000
Accident Insurance JMD $50000 JMD $50000 JMD $50000
Property JMD $50000 JMD $50000 JMD $50000

Broker

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $7000 JMD $7000
Ordinary Long Term JMD $7000 JMD $7000
Sickness & Health JMD $7000 JMD $7000
Liability Insurance JMD $7000 JMD $7000
Marine, Aviation & Transport JMD $7000 JMD $7000
Motor Vehicle Insurance JMD $7000 JMD $7000
Pecuniary Loss Insurance JMD $7000 JMD $7000
Accident Insurance JMD $7000 JMD $7000
Property JMD $7000 JMD $7000

Facultative Placement Brokers

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $7500 JMD $7500
Ordinary Long Term JMD $7500 JMD $7500
Sickness & Health JMD $7500 JMD $7500
Liability Insurance JMD $7500 JMD $7500
Marine, Aviation & Transport JMD $7500 JMD $7500
Motor Vehicle Insurance JMD $7500 JMD $7500
Pecuniary Loss Insurance JMD $7500 JMD $7500
Accident Insurance JMD $7500 JMD $7500
Property JMD $7500 JMD $7500

Reinsurance Brokers

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $7500 JMD $7500
Ordinary Long Term JMD $7500 JMD $7500
Sickness & Health JMD $7500 JMD $7500
Liability Insurance JMD $7500 JMD $7500
Marine, Aviation & Transport JMD $7500 JMD $7500
Motor Vehicle Insurance JMD $7500 JMD $7500
Pecuniary Loss Insurance JMD $7500 JMD $7500
Accident Insurance JMD $7500 JMD $7500
Property JMD $7500 JMD $7500

Agents

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $3600 JMD $3600
Ordinary Long Term JMD $3600 JMD $3600
Sickness & Health JMD $3600 JMD $3600
Liability Insurance JMD $3600 JMD $3600
Marine, Aviation & Transport JMD $3600 JMD $3600
Motor Vehicle Insurance JMD $3600 JMD $3600
Pecuniary Loss Insurance JMD $3600 JMD $3600
Accident Insurance JMD $3600 JMD $3600
Property JMD $3600 JMD $3600

Managing General Agents

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $5000 JMD $5000
Ordinary Long Term JMD $5000 JMD $5000
Sickness & Health JMD $5000 JMD $5000
Liability Insurance JMD $5000 JMD $5000
Marine, Aviation & Transport JMD $5000 JMD $5000
Motor Vehicle Insurance JMD $5000 JMD $5000
Pecuniary Loss Insurance JMD $5000 JMD $5000
Accident Insurance JMD $5000 JMD $5000
Property JMD $5000 JMD $5000

Sales Representatives

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $800 JMD $400
Ordinary Long Term JMD $3000 JMD $3000
Sickness & Health JMD $800 JMD $400
Liability Insurance JMD $800 JMD $400
Marine, Aviation & Transport JMD $800 JMD $400
Motor Vehicle Insurance JMD $800 JMD $400
Pecuniary Loss Insurance JMD $800 JMD $400
Accident Insurance JMD $800 JMD $400
Property JMD $800 JMD $400

Loss Adjusters

Classes of Insurance Business Registration Renewal
     
Insurance Life - -
Ordinary Long Term - -
Sickness & Health - -
Liability Insurance JMD $800 JMD $400
Marine, Aviation & Transport JMD $800 JMD $400
Motor Vehicle Insurance JMD $800 JMD $400
Pecuniary Loss Insurance JMD $800 JMD $400
Accident Insurance JMD $800 JMD $400
Property JMD $800 JMD $400

Insurance Consultants

Classes of Insurance Business Registration Renewal
     
Insurance Life JMD $800 JMD $400
Ordinary Long Term JMD $3000 JMD $3000
Sickness & Health JMD $800 JMD $400
Liability Insurance JMD $800 JMD $400
Marine, Aviation & Transport JMD $800 JMD $400
Motor Vehicle Insurance JMD $800 JMD $400
Pecuniary Loss Insurance JMD $800 JMD $400
Accident Insurance JMD $800 JMD $400
Property JMD $800 JMD $400
  Registration Renewal Other
  Processing Licensing    
         
Individuals
         
Dealers Representatives JMD $5000 JMD $16000 JMD $16000  
Investment Advisor Representatives JMD $5000 JMD $8000 JMD $8000  
Responsible Offeres JMD $5000 JMD $50000 JMD $50000  
Individual Dealers JMD $5000 JMD $500000 JMD $500000  
Individual Investment Advisor JMD $5000 JMD $90000 JMD $90000  
         
Companies
         
Dealers* JMD $5000 Licencing fee…the greater of : i) JMD $ 500,000.00; or ii) the aggregate of - A) 5 basis points on the first JMD$ 5 billion of total assets; B) 1.5 basis points on the next JMD $ 25 billion of total assets; and C) 0.75 basis points on assets over JMD $ 30 billion. Annual fee…the greater of : i) JMD $ 500,000.00; or ii) the aggregate of - A) 5 basis points on the first JMD$ 5 billion of total assets; B) 1.5 basis points on the next JMD $ 25 billion of total assets; and C) 0.75 basis points on assets over JMD $ 30 billion.  
Investments Advisors** JMD $5000 JMD $ 90,000.00(plus JMD $ 4,000.00 in respect of each branch) JMD $ 90,000.00 (plus JMD $ 4,000.00 in respect of each branch)  
         
CIS
         
Local USD $1000 USD $5000 USD $5000  
Overseas USD $1000 USD $5000 USD $5000  
         
Stock Exchanges β     0.08% of the total value of all trading activities on the stock market for each day of the financial year of the Exchange.  
Depositories β     5% of the transaction revenue  
         
Insurers (Commercial Paper) N/A N/A   Issuer fee of ( $8.00 for every $ 100,000.00 in value of commercial paper issued over a period of thirty days.

* In respect of branches a licensing and renewal fee of JMD$ 8,000.00 is also payable

** In respect of branches a licensing and renewal fee of JMD$ 4,000.00 is also payable

β Fees payable by a stock exchange/depository shall be an annual fee paid monthly by the last day of the month following the month for which the fee is due.

 # Processing fees are non-refundable

Fees expressed in the currency of the United States of America may be paid in that currency or in the Jamaican currency equivalent at the prevailing rate of exchange at the date of payment.

Renewal fees are due on or before the anniversary of the grant of the license.

Total Assets include the off-Balance Sheet Funds Under Management of dealer companies

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