The insurance sector is expected to contribute $23.838 million in levies to fund the Australian Securities and Investments Commission’s supervision work in 2025-26.

ASIC estimates that overall it will collect $400.52 million via cost recovery levies and statutory levies from various sectors under its industry funding regime, up 18.6% on the previous year.

“The increase reflects additional funding for ASIC’s regulatory, supervision and enforcement work, along with the timing of expenditure,” the commission said.

The figures provided in the Cost Recovery Implementation Statement are a guide and final levies will be published in December, with invoices sent between January and March next year.

The insurance sector levy comprises general and life entities that are product providers ($16.879 million); product distributors ($2.498 million); risk management product providers ($400,000); and claims handling and settling services providers ($4.061 million).

In 2024-25 the insurance industry was levied $17.608 million.