The Central Bank of Ireland has ratified a reduction in the Insurance Compensation Fund (ICF) levy from 2% to 1%, effective 1 January 2026. This change follows the Bank’s annual review of the Fund’s financial state and reflects improved projections for its income and reserves. This decision has been made pursuant to Section 6 of the amended Insurance Act, 1964.
The reduced 1% rate applies to any gross premiums received by the insurers in respect of premiums received for relevant risks in Ireland on or after 1 January 2026.
