Regulatory Alerts2026-01-01
Insurance (Restricted Activities) (Amendment) Regulations 2026
The Isle of Man Financial Services Authority issued these regulations to amend the Insurance Regulations 2025 and align the local insurance sector with the Global Minimum Tax (Pillar Two) Order 2024. The amendment inserts a new provision that exempts authorised insurers from specific statutory restrictions and explicitly prescribes that registered insurance managers may be appointed as, and carry out the activities of, a Domestic Filing Entity. These amendments commence on 31 January 2026 following mandatory consultation and parliamentary scrutiny procedures.
Insurance (Restricted Activities) (Amendment) Regulations 2026 Index c SD No. 2026/0021 Page 1 c INSURANCE (RESTRICTED ACTIVITIES) (AMENDMENT) REGULATIONS 2026 Index Regulation Page 1 Title ...................................................................................................................................3 2 Commencement..............................................................................................................3 3 Restricted activities.........................................................................................................3
Insurance (Restricted Activities) (Amendment) Regulations 2026 Regulation 1 c SD No. 2026/0021 Page 3 Statutory Document No. 2026/0021 Insurance Act 2008 c INSURANCE (RESTRICTED ACTIVITIES) (AMENDMENT) REGULATIONS 2026 Laid before Tynwald: Coming into Operation: 31 January 2026 The Isle of Man Financial Services Authority makes the following Regulations under sections 50 and 23 of, and Schedule 7 to, the Insurance Act 2008, after having carried out the consultation required by section 50(3) of that Act. 1 Title These Regulations are the Insurance (Restricted Activities) (Amendment) Regulations 2026. 2 Commencement These Regulations come into operation on 31 January 20261 . 3 Restricted activities In the Insurance Regulations 20252 , after regulation 24, insert — «24A Restricted activities exemption and prescribed activities (1) An authorised insurer is exempt from section 16 of the Insurance Act 2008 insofar as the insurer may be appointed as, and may carry out the activities of, a Domestic Filing Entity in accordance with the Global Minimum Tax (Pillar Two) Order 20243 . (2) Under section 23 of the Act, pursuant to subsection (2)(b), it is prescribed that an insurance manager registered under Part 6 of the Insurance Act 2008 may be appointed as, and may carry out 1 Under section 50(4) of the Insurance Act 2008, regulations shall be laid before Tynwald as soon as practicable after they are made, and if Tynwald at the sitting at which the regulations are laid, or at the next following sitting, resolves that they shall be annulled, the regulations shall cease to have effect from that time. 2 SD 2025/0138 3 SD 2024/0234
Regulation 3 Insurance (Restricted Activities) (Amendment) Regulations 2026 Page 4 SD No. 2026/0021 c the activities of, a Domestic Filing Entity in accordance with the Global Minimum Tax (Pillar Two) Order 2024.» MADE 26 JANUARY 2026 B. ROTH Chief Executive of the Isle of Man Financial Services Authority L. BOYLE Member of the Isle of Man Financial Services Authority