Big Changes For Re-insurers Under New Tax Law
The new US Tax law has affected companies across the country and the sector that's likely to see the most impact from the reduction in the federal corporate tax rate from 35% to 21%, is the property and casualty insurance and reinsurance industry.
Under the new tax regime, US-based P&C insurers and reinsurers will be able to compete more efficiently globally as it will allow them to boost profitability, potentially cut rates and make them more competitive with global counterparts.
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