Marsh & McLennan Cos., the largest insurance broker by market value, is seeking ways to cut tax obligations as rivals shift to Europe, where rates are lower. “The search for tax efficiency for us started several years ago,” Dan Glaser, …
A sweeping global reform of tax systems is under way and will have profound implications for the insurance industry, the London-based International Underwriting Association has warned. Responding to public concerns about tax evasion, the G20 major economies have ordered a …
The U.S. House of Representatives passed H.R. 8, the “Job Protection and Recession Prevention Act,” that would extend the 2001 and 2003 tax rates through 2013. H.R. 8 includes an extension of current marginal tax rates, as well as dividend …
Thailand’s Thanachart Bank Pcl, backed by Canada’s Bank of Nova Scotia, is preparing to sell its insurance operations in a deal could fetch about $500 million, sources familiar with the matter said on Friday. The sale would likely include a …
Insurance company CNA Group is one of three Chicago firms returning $34 million in tax breaks to the city. Also among the companies returning or not accepting special taxing district funds is CME Group, parent of the Chicago Board of …
American International Group Inc. (AIG) has hired Clarissa Potter, former deputy chief counsel at U.S. Internal Revenue Service and former law professor, as deputy tax director. In this role, Potter will be responsible for AIG’s global tax planning, including continued …
The Association of British Insurers notes that the industry made a “total contribution of £10.4 billion [$17.21 billion] to the Exchequer – which would cover the entire £10.2 billion [$16.9 billion] Home Office budget. Insurance companies in the Hundred Group …
Sen. Charles Schumer is calling for an end to a new government surcharge that amounts to roughly $20 per worker for New York businesses. The Rochester Democrat and Chronicle reported that Schumer called the surcharge an example of “job-killing taxes.” …
The UK government’s recently proposed budget contain a number of measures aimed at helping UK firms to increase their business, and to make them more competitive. As the UK’s insurance industry is one of the country’s most successful sectors, it …
