Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The catastrophe losses counteracted gains from the implementation of tax reform, according …
U.S. Senate Republicans on Thursday sought to correct a section of President Donald Trump’s tax overhaul that threatened to prevent sexual harassment victims from claiming a tax deduction for the legal costs they incur while pursuing their cases. In a …
Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit this year. Insurers’ net income after taxes surpassed $17 billion during the first three months of the year, compared to …
U.S. Treasury Department rules outlining which businesses structured as S corporations, partnerships and limited liability companies can claim a 20 percent tax deduction are likely to be delayed until the end of July, according to a senior administration official. The …
Congress has passed and President Donald Trump has signed the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C corporations will …
MetLife Inc. Chief Executive Officer Steve Kandarian said industries must be willing to forfeit some of their advantages in the tax code in order for the U.S. to seize a “once-in-a-generation” opportunity to lower corporate rates and simplify the process. …
The disruption in the municipal bond market is punishing some of the most loyal buyers of the debt. The insurance industry has seen more than $5 billion of gains erased on state and local bonds after Donald Trump’s victory in …
