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Results: 1-10 of 21

New York Insurance Department considering requesting lower federal tax rate
  • Locke Lord LLP
  • USA
  • March 8 2010

According to media reports, New York Insurance Department (the “Department”) Superintendent James Wrynn announced at a membership meeting of the Association of Insurance & Reinsurance Run-Off Companies (AIRROC) that the Department’s tax working group is reviewing whether a revived New York Insurance Exchange (the “Exchange”) should request a lower federal corporate tax rate


Alastair Darling's Budget proposes tax break for asbestos trusts
  • Locke Lord LLP
  • United Kingdom
  • March 30 2010

Alastair Darling's 2010 Budget includes provisions designed to help asbestos trusts which were set up by companies prior to 24 March 2010 to meet their asbestos liabilities


Chaucer latest Lloyd's entity to consider new domicile
  • Locke Lord LLP
  • United Kingdom
  • January 26 2010

In an interview with Bloomberg, Chaucer's chief executive officer Bob Stuchbery has indicated that Chaucer will consider redomiciliation out of the UK this year, noting that he would much prefer that Chaucer remained in the UK under a more competitive corporation tax environment


Obama proposes budget that would end foreign reinsurer tax advantages
  • Locke Lord LLP
  • USA
  • February 3 2010

President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company


Rhode Island 2011 budget - tax implications for surplus lines insurers and medical malpractice joint underwriters association
  • Locke Lord LLP
  • USA
  • June 16 2010

The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association


Emergency Budget heralds insurance premium tax rise
  • Locke Lord LLP
  • United Kingdom
  • June 24 2010

On 22 July 2010 the Chancellor of the Exchequer, George Osborne, presented his emergency Budget


Court of Appeal rules on VAT exemption for insurance intermediaries
  • Locke Lord LLP
  • United Kingdom
  • May 28 2010

The Court of Appeal handed down its judgment in Commissioners for Her Majesty's Revenue and Customs v Insurancewide


Health care legislation imposes tax on annuity income
  • Locke Lord LLP
  • USA
  • April 26 2010

The Health Care and Reconciliation Act (the "Act"), signed into law on March 30, 2010, imposes a tax on annuity income to help pay for the multi-billion dollar reform package set forth in both the Act and the Patient Protection and Affordable Care Act, signed into law on March 23, 2010


Incoming regulations may increase actuarial costs
  • Locke Lord LLP
  • United Kingdom
  • September 2 2009

On 1 September 2009, the General Insurers' Technical Provisions (Appropriate Amount) (Tax) Regulations 2009 (the Regulation) comes into force in the UK


New regulations relating to calculation of general insurance technical provisions for tax purposes
  • Locke Lord LLP
  • United Kingdom
  • July 28 2009

The UK's tax authority, Her Majesty's Revenue and Customs (HMRC), has introduced new regulations relating to technical provisions made by general insurers, including members underwriting general insurance business at Lloyd's