RMA-I Supplement Product Sales Data: help text

(i) non-investment insurance contracts

1. Total non-investment insurance premium derived from retail customers. Firms should enter the total insurance premium for all retail customers. Where a policy is taken out on a monthly basis, or if the policy lasts more than one year, this amount should be annualised for the purposes of reporting this information to the FCA, ie if the firm receives a monthly premium of £10 for a policy this needs to be reported as though they are receiving the total annual premium up front, so £10 over the year will total £120.

2. Please indicate in column A each product type where the firm has advised or arranged transactions for retail customers during the reporting period. Answer 'Y' in the boxes in column A where the firm has sold the corresponding product during the reporting period.

3. Please indicate in column B where the firm's business for retail customers in the product type formed more than 40% by premium of all of its non-investment insurance contracts.? Answer 'Y' in any of the boxes in column B where that product makes up more than 40% of all premium derived from the firm's sales of insurance business to retail customers.

4. Of total non-investment insurance premium derived from retail customers, please indicate in column D where these sales were passed up a chain and this business was significant. Answer 'Y' in any of the boxes where:

The sales were passed up a chain (ie there is more than one broker between the customer and the product provider) AND

  • the sales were passed up a chain (ie there is more than one broker between the customer and the product provider); and
  • more than 40% of all premium derived from retail customers relates to that product; or
  • more than 40% of all premium derived from this product were passed up a chain.

IPRU IS Annex 11 Page 25 of definitions 11.3 provides description of the insurance product types.

Further information

RMA-I Frequently Asked Questions