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EMI option in Insurance industry

I am contemplating an EMI Share Option scheme for a new business, but note that there is an exclusion for Insurance companies.

The business is to be a "Managing General Agent" which is involved in administering and marketing insurance products on behalf of Insurance companies, but not actually taking insurance risks itself.  Does anyone have any experience of how wide the exclusion is drawn?  Does it apply to businesses that are, in effect, service suppliers to insurance companies?

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Speak to the ESSU

Can I suggest you have a chat with the Revenue's ESSU - http://www.hmrc.gov.uk/shareschemes/changes-to-admin.htm 

We've implemented a few EMI schemes for insurance companies, having obtained prior agreement with the unit that they fall outisde the exclusion.

 

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Thanks Russell, that's been very useful.  They confirmed that companies which are engaged in marketing multiple insurance products are usually accepted because they are "less risky".  I'm not sure why risk is a factor in having approval but that seems to be good news so I shan't argue!

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