Insurance News

Posts Tagged ‘Offshore

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 »

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WASHINGTON (Dow Jones)–Foreign insurers are stepping up their fight against legislation that would tax offshore related-party transactions.

They will release a study Friday claiming that proposals in Congress would increase U.S. premiums across business lines by an average of 2%. That translates to an added $10 billion to $12 billion per year paid by Americans for insurance coverage, according to the analysis from the Brattle Group consulting Read the rest of this entry »