David Luce

David Luce

DLA Piper

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Proposed US Tax Legislation Aims to Curb Hedge Fund Reinsurance

Senator Ron Wyden (D-OR) has released legislation, the Offshore Reinsurance Tax Fairness Act (ORTFA), which aims to close what he perceives to be a loophole used to exploit an exception to the passive foreign investment...more

7/7/2015 - Corporate Taxes Financial Reporting GAAP Hedge Funds Insurance Companies Investment Funds IRC IRS Offshore Companies Passive Foreign Investment Company Proposed Legislation Reinsurance SPVs Tax Deferral U.S. Treasury

Proposed US Tax Legislation Aims to Curb Hedge Fund Reinsurance

Senator Ron Wyden (D-OR) has released legislation, the Offshore Reinsurance Tax Fairness Act (ORTFA), which aims to close what he perceives to be a loophole used to exploit an exception to the passive foreign investment...more

7/6/2015 - Corporate Taxes Financial Reporting GAAP Hedge Funds Insurance Companies Investment Funds IRC IRS Offshore Companies Passive Foreign Investment Company Proposed Legislation Reinsurance SPVs Tax Deferral U.S. Treasury

Global Trends in Insurance M&A in 2014 and Beyond

Looking back on 2014: The return of the billion dollar transactions - In recent years, insurance companies have largely focused on improving their performance by cutting costs amidst a slow post-global financial crisis...more

6/1/2015 - Acquisitions Annuities Asia Buyers Digital Services EU Global Economy Insurance Brokers Insurance Companies Insurance Industry Life Insurance Mergers Private Equity Real Estate Investments Reorganizations Sellers Technology

Rector Report on reforming reserve financing transactions: much work remains – 6 developments

On June 30, 2014, the NAIC Principle-Based Reserving Implementation (EX) Task Force (PBR Task Force) held a conference call to discuss comments to the modified recommendations to the report issued by Rector & Associates, Inc....more

7/3/2014 - Actuarial Values Financing NAIC Reinsurance

District court finds that insurance premium excise tax does not apply to retrocession transactions

On February 5, 2014, the US District Court for the District of Columbia held that the federal excise tax ("the FET") on insurance and reinsurance premiums does not apply to retrocession insurance transactions. Under a plain...more

2/7/2014 - Casualty Insurance Excise Tax Federal Taxes Indemnity Insurance Reinsurance Retrocessional Claims

"Hot fun in the summertime": insurance regulatory activity heats up

The now iconic song of 1969 aptly describes the insurance regulatory activity we are seeing in the summer of 2013. During the last two weeks of July, the International Association of Insurance Supervisors (IAIS)...more

8/9/2013 - Insurance Reform Insurance Regulations Insurers NAIC

State, national and international insurance regulatory activity reflects steps toward more regulation and heightened scrutiny

The past few weeks have seen a flurry of insurance regulatory activity at the federal, state and international level. Individually these developments are noteworthy; taken together, they evidence the depth and breadth of...more

6/27/2013 - Andrew Cuomo Annuities Captive Insurance Company FSOC Hedge Funds Insurers NAIC SIFIs U.S. Treasury

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