Chubb expects a $250mn benefit from new U.S. tax law

by Editor

January 1, 2018 | 12:45 am
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Chubb has announced an expected benefit from the new U.S. corporate tax law in excess of $250 million in the fourth quarter of 2017.
Chubb logoThis preliminary estimate reflects the one-time impact of the reduced U.S. corporate income tax rate from 35% to 20%, and the deemed repatriation of foreign subsidiary earnings on the company’s net deferred tax liability position.
According to Morgan Stanley a 20% U.S. corporate tax rate could boost domestic P&C earnings by 14% on average.
Analysts said firms that stand to benefit most from the new tax laws are those with higher tax rates and larger U.S. exposure, such as Brown, Progressive, AIG, WR Berkley, Allstate, and Berkshire Hathaway.
The new tax regime could make operating an insurance or reinsurance company from the United States a more attractive proposition for firms currently domiciled, or with subsidiaries, elsewhere.

by Editor

January 1, 2018 | 12:45 am
  |     |     |   Start Conversation

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