The Federal Government has issued the Australian Reinsurance Pool Corporation (ARPC) with directions to pay it $112.5 million.

The statement from Assistant Treasurer Kelly O’Dwyer outlines a $55 million fee and a $57.5 million dividend to be paid this month.

This is in line with last year’s budget announcement that the Government will take $450 million from the pool over four years.

The fee is in return for the $10 billion Commonwealth guarantee, while the dividend reflects return on capital for the Government as ARPC owner.

The payments are lower than in previous years. In 2013/14 the ARPC paid a total of $150 million, and in 2012/13 it paid $175 million.

Since its creation in 2003, the ARPC has paid the Commonwealth fees and dividends totalling $550 million.