Corporation Tax Act 2010 section 357XE

Re-insurance trade

Section 357XE provides that a trade consisting of re-insurance, including retrocession, is an excluded trade for the purposes of the Northern Ireland corporation tax regime.

• A trade that consists of re-insurance is classified as an "excluded trade"
• Re-insurance includes retrocession, which is the re-insurance of re-insurance risks
• Excluded trades do not qualify for the Northern Ireland reduced rate of corporation tax
• This exclusion applies regardless of whether the re-insurance activity is direct re-insurance or retrocession