June 9, 2015
8:00 am – 1:30 pm
Locke Lord LLP
750 Lexington Avenue, 8th Floor
New York, NY 10022
Program:
Registration 8:00 am
Program 8:30 am
Lunch 12:30 pm
Program:
The Current State of Antitrust Immunity for Insurance Companies
by Thomas F. Bush and Rowe W. Snider
…
Read More Complimentary Seminar – 14th Annual Half-Day Insurance and Reinsurance Seminar
The Internal Revenue Service late last week issued proposed regulations addressing what constitutes the “active conduct of an insurance business” for purposes of the passive foreign investment company (“PFIC”) rules. These regulations were issued in part in response to the perceived problem of hedge funds using offshore reinsurance companies to…
Read More Proposed Tax Regulations Issued on PFIC Rules for Insurance Companies
Earlier this week, the European Union’s executive body gained key approval to begin negotiations with the United States on a deal aimed at cutting the minimum collateral levels required of foreign reinsurers operating in the US. The authorization to enter negotiations, which was trumpeted by European officials as the first…
Read More Europeans Authorize Negotiations with US to Loosen Reinsurance Collateral Requirements
On April 9, 2015, the Georgia legislature sent a bill to the governor for his signature that would improve the regulatory environment for captive formation in the state. House Bill 552 reduces the taxes imposed on all Georgia domiciled captive insurance companies, among other captive friendly revisions. Once enacted, Georgia’s…
Read More New Georgia Captive Law Lowers Taxes Among Other Changes
In 2013, Texas enacted legislation authorizing captive insurance companies to be domiciled in Texas for the first time, with the first Texas captive becoming licensed on March 17, 2014. Now, Texas lawmakers have proposed legislation, Senate Bill 667, to enhance an already favorable regulatory environment for Texas-licensed captive companies…
Read More Texas Legislation Looks to Enhance Captive Regulatory Environment
The global stock of insurance linked securities at the end of 2014 was approaching $25.2 billion. Yesterday George Osborne unleashed the giant peach for the United Kingdom in a seemingly measured statement but one full of promises.
“2.228 Global reinsurance – the government announced at Autumn Statement 2014 that it…
Read More George Unleashes the Giant Peach
On a March 16 conference call, the NAIC Principle-Based Reserving Implementation (EX) Task Force adopted the 2015 XXX/AXXX Reinsurance Supplement Proposal. The Proposal adds to the Annual Statement a reinsurance exhibit which discloses data regarding reinsurance cessions subject to reserve valuation under Regulations XXX and AXXX. Significantly, after considering public…
Read More 2015 NAIC XXX/AXXX Reinsurance Supplement Proposal
South Dakota recently enacted legislation that will allow insurance agents and service contract producers (e.g. motor vehicle dealer) to form captive insurance companies to insure or reinsure the risks placed by or through such agency or service contract producer. The law, which does not got into effect until July…
Read More South Dakota Enacts Law Allowing Insurance Agents and Service Contract Producers to Form Captives
On February 9, Connecticut Governor Dannel Malloy wrote a letter to U.S. Department of the Treasury Secretary Jacob Lew and U.S. Trade Representative Ambassador Michael Froman expressing his concern over their departments’ consideration of preempting state insurance regulation by potentially negotiating a “covered agreement” with foreign authorities. Such an agreement…
Read More Connecticut Governor Urges Treasury and the Office of U.S. Trade Representatives to Leave Reductions in Collateral Requirements of Reinsurers to the States
January 12, 2015 – Locke Lord LLP and Edwards Wildman Palmer LLP have officially merged, creating Locke Lord Edwards, a firm with more than 1,000 lawyers in 23 cities around the world as well as a combined history of more than 125 years. With joined revenues, it will be among…
Read More It’s Official: Locke Lord, Edwards Wildman Combination Launched; Locke Lord Edwards Expands Global Reach, Enhances Client Services
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