Face Off

December 2008
Best's Review;Dec2008, Vol. 109 Issue 8, p74
Trade Publication
The article reports on the legislation, H.R. 6969 which was introduced by U.S. Representative Richard Neal. It will limit deductions of reinsurance premiums that foreign insurers and reinsurers ceded to offshore affiliates. Moreover, H.R. 6969 will address concerns raised in 2007 by the 14-member Coalition for a Domestic Insurance Industry. Furthermore, the group argues that favorable tax treatment in Bermuda and Cayman Islands has made it difficult for U.S.-based firms to compete.


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