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US regulators eye stricter oversight on offshore reinsurance

Regulators are particularly concerned about the life insurance sector ....

United States , District Of Columbia , National Association Of Insurance , Us Department Of Labor , Global Atlantic Financial Group , Life Actuariala Task , Athene Holding Ltd , Moody Investors Service , National Association , Insurance Commissioner , Task Force , Offshore Reinsurance ,

Biden Tax Plan Hits Global Reinsurance

Biden Tax Plan Hits Global Reinsurance
The bills for the Biden administration’s multi-trillion dollar American Jobs and American Families plans are expected to be footed by additional revenues generated by The Made in America Tax Plan [1]. A headline feature of the plan raises income taxes on the highest-earning American families, the 1.8 percent of households [2] earning over $400,000 per year. Taxes on the remaining 98.2 percent middle class and poor American families would be unaffected right? Wrong. A poorly-understood feature of the Biden plan penalizes the global reinsurance industry, which would make property insurance more expensive, especially for homes and businesses in Florida, where premiums are already rising steeply. The plan functionally introduces what may be viewed as a “hurricane tax:” raising corporate taxes and introducing new rules impacts international financial transactions, which increases the cost of reinsurance and adversely impacts primary i ....

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Reinsurance Association of America promotes analytics guru

Reinsurance Association of America promotes analytics guru
30-04-2021
31-03-2021
The Reinsurance Association of America (RAA) has promoted Scott Williamson to senior vice president at its annual general meeting on April 28, 2021.
Williamson is the director of analytics at the RAA, responsible for its interactive data models and analytics that quantify and communicate the impact of various state and federal regulatory and legislative proposals on the re/insurance industry.
He also assists in the development of public policy for issues impacting the property and casualty (P&C) industry, and is responsible for several statistical RAA reports, including the Casualty and Catastrophe Loss Development Studies, Reinsurance Quarterly Reports, Reinsurance Underwriting Review, and Offshore Reinsurance in the US Market. ....

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