Enterprise Insurance has announced the implementation of a 15% Value Added Tax (VAT) and 6% levies on all Non-Motor Insurance policies, excluding bonds, in compliance with the VAT (Amendment) Act, 2023 (Act 1107).

The new charges will take effect from July 1, 2025, and will apply to both new and existing policies.

In a notice to customers, Enterprise Insurance said the move is in line with government policy and regulatory requirements. “Effective 1st July 2025, all Non-Motor Insurance policies (excluding Bonds) will attract VAT of 15% and levies of 6%, in accordance with the VAT (Amendment) Act, 2023,” the company stated.

Policyholders are encouraged to seek further clarification by contacting the company via email at customerservice.insurance@myenterprisegroup.io or by visiting the nearest Enterprise Insurance branch.

Enterprise Insurance reaffirmed its commitment to delivering trusted insurance services and thanked customers for their continued loyalty.

The VAT (Amendment) Act, 2023 was passed as part of broader tax reforms aimed at enhancing domestic revenue mobilisation.