Insight and Intelligence on the London & International Insurance Markets

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London unites to tackle FATCA threat

5 June 2013

The London market - together with professional services heavyweight Ernst & Young (E&Y) - is grappling with the unexpected repercussions of being caught in the net by the Foreign Account Tax Compliance Act (FATCA).

The US anti-tax evasion law will burden all overseas (re)insurers that write US business with a new layer of bureaucracy, and they will have only months to implement the processes required.

Earlier this year, the US tax authorities confirmed that the industry will be covered by...

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This article was published as part of issue June 2013/1

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