insurer taxes News

Trump to Order Review of Dodd-Frank Reforms, Taxes for Insurers, Banks

President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business. A White House official said on Thursday that Trump …

AIG Among ‘Too-Big-to-Fail’ Insurers Trying to Assess Path Forward Under Trump

Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House administrations, according to a filing. The “appropriateness and federal regulation” of …

New Mexico Regulator Seeks More Time to go after Back Taxes from Insures

New Mexico’s superintendent of insurance pleaded Wednesday for more time to recover unpaid taxes on insurance premiums and investigate at least one company, after an outside audit uncovered $193 million in uncollected state revenue. Insurance Superintendent John Franchini told a …

NYIA: State Continues to Divert Assessment Funds

The New York Insurance Association (NYIA) is urging the New York state government to stop its practice of diverting assessments levied on New York-domiciled insurers to fund non-insurance programs and operations. NYIA said this month marks the five years since …

U.S. Treasury Eyes Hedge Funds’ Use of Low-Tax Bermuda Reinsurers

The U.S. Treasury Department said it’s considering ways to end a “loophole” that allows hedge- fund managers to avoid taxes by routing their investments through an insurance company in low-tax countries like Bermuda. The Treasury, in an Aug. 9 letter …