The UK government has pledged to work with the (re)insurance industry to attract insurance-linked securities (ILS) business into the country, the Chancellor of the Exchequer George Osborne announced today (18 March) as part of the 2015 Budget.
Third Point Re's chief financial officer has maintained that the vehicle is a "real" insurer rather than a means of enabling hedge funds to benefit from tax advantages, as the US Internal Revenue Service (IRS) considers tightening its guidelines.
