Annual fees for insurers
32.—(1)  A registered insurer, other than a reinsurer or a captive insurer, shall pay to the Authority the following fees on or before 1st January of each year:
(a)for carrying on life business, a fee of $60,000;
(b)for carrying on general business, a fee of $50,000; or
(c)for carrying on both life business and general business, a fee of $110,000.
(2)  A reinsurer shall pay to the Authority the following fees on or before 1st January of each year:
(a)for carrying on life business, a fee of $20,000;
(b)for carrying on general business, a fee of $20,000 in 1993, $25,000 in 1994 and $30,000 thereafter; or
(c)for carrying on both life business and general business, a fee of $40,000 in 1993, $45,000 in 1994 and $50,000 thereafter.
(3)  A captive insurer shall pay to the Authority on or before 1st January of each year a fee of $5,000.