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Jun 2013

Global News


RIMS opposes proposed tax deduction for reinsurance premiums

RIMS has delivered an official letter to the US government's House Ways and Means Committee's International Tax Reform Working Group to voice the Society's disagreement with the Administration's Proposed 2014 Budget that includes an effort to eliminate the tax deduction for reinsurance premiums ceded by domestic insurers to their foreign affiliates.

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Tokio Millennium Re moves from Bermuda to Switzerland

Tokio Millennium Re (TMR) is planning to redomesticate its place of incorporation from Bermuda to Switzerland in keeping with its long-term strategy to expand its business both geographically and through broader product offerings.

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IAIS should recognise IAIGs' internal economic valuation approaches

Internationally active insurance groups (IAIGs) said in a survey by The Geneva Association that the International Association of Insurance Supervisors (IAIS) should aim to recognise the internal economic valuation approaches developed by them to measure risk exposure and assess group capital adequacy.

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