How much does it cost to subscribe?

The fee structure for 2013/14 is set out below.

The CMI will shortly be writing to our existing financial contributors regarding 2013/14 fees. Other organisations seeking access to CMI Limited outputs should click here for more details.

Consultancies

The previous simple structure for contributions from consultancies based on numbers of actuaries has been retained, with a small increase for 2013/14. The fees for 2013/14 are (subject to VAT):

For consultancies with 16 or fewer UK qualified actuaries (including individuals, operating as ‘one-man consultancies’) there is a ‘per actuary’ fee of £250 (+VAT) per qualified actuary.

Reinsurers

A flat-level fee of £20,000 pa (plus VAT) applies in 2013/14.

Life offices

The total fees required from life offices are assessed each year and a factor is derived to be applied as follows:

• per £1,000,000 of Net Capital at Risk on death from Form 60 (excluding Lines 11 and 12; intended to remove Group Life business from the calculation),

plus

• per £100,000 of Net Reserves on annuities in payment from Forms 51 and 54, together with corresponding values for any unit-linked or unitised with-profits business;

subject to a minimum of £5,000 and a maximum of £75,000.

For 2013/14, the factor will be 0.35 applied to values from the 2011 FSA Returns.

Please note:

• The fee is expressed net of VAT.
• The calculation should be applied to UK business only.
• Insurers are requested to consider the "spirit" of the formula, and to contact us if they consider that it does not appropriately reflect the nature of their business.

Other organisations

The approach to setting fees for some other types of organisations that do not fall within any of these groups is set out below.

• Academics
  Granted free access provided their use of CMI Limited’s outputs is solely for non-commercial purposes. This will also apply to any individuals who are members of CMI committees that do not work for an organisation that pays a fee and to overseas actuarial associations.
• Regulators and government bodies
  Granted free access, as we believe this will encourage more widespread use of CMI Limited’s outputs.
• Other UK commercial firms
  The standard fee for an organisation (other than a life insurer, a reinsurer or an actuarial consultancy, including accountancy firms employing actuaries) will be the same level as for a reinsurer (£20,000 +VAT in 2013/14). If a firm can clearly demonstrate that its planned use of CMI outputs is modest, then a lower fee can be considered.
• Overseas companies with a UK entity
  The fee will be based on the UK entity.
• Overseas companies with no UK entity
  The fee will normally be calculated as if the company were a UK entity; e.g. for an overseas life insurer, this would be based on net capital at risk on death and net reserves for annuities in payment.