Insurers set to benefit from UK budget changes
Corporation tax in the UK will be cut by 2 percent this year in a budget that accountancy firm PricewaterhouseCoopers (PwC) has welcomed as good for insurers.
In his budget statement, UK chancellor of the Exchequer George Osborne said that he wanted to "fundamentally reform" rules for controlled foreign companies (CFCs) to make their tax arrangements more territorial.
"We will introduce new rules that effectively apply an ultra-competitive 5.75 percent rate on overseas financing income," said Osborne.
"That will give...
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