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Posts Tagged ‘crackdown

WASHINGTON—A coalition of 14 U.S.-based property/casualty insurers is calling for legislation that prohibits domestic insurers with foreign parents from reinsuring their U.S.-written business with foreign affiliates in low- or no-tax jurisdictions.

The Coalition for a Domestic Insurance Industry sent a report and cover letter supporting its position to chairmen and ranking members of the Senate Finance Committee, House Ways and Means Read the rest of this entry »


WASHINGTON—How the Obama administration’s planned crackdown on U.S. companies that operate subsidiaries in tax havens will impact the insurance industry remains unclear.

The president outlined his plan during a brief press conference on Monday morning. He said he did not want to reward companies that avoided paying U.S. taxes through the use of foreign subsidiaries, but he did not go into great detail on the proposal.

At least seven Read the rest of this entry »