Accounting & Tax
IRS Makes Settlement Offer to Taxpayers Involved in ‘Dirty’ Micro-Captive Insurance
The Internal Revenue Service said it is mailing a time-limited settlement offer for certain taxpayers under audit who participated in what the IRS calls "abusive micro-captive insurance" ...
Indiana University Research Reveals Problems of Fewer Financial Reports
President Donald Trump on Friday indicated that he has asked the Securities and Exchange Commission to review changing its reporting requirements, away from quarterly reports to semi-annual reports. ...
P/C Insurers, Reinsurers Face Earnings Volatility Due to New Accounting Requirement: Fitch Ratings
Many insurers and reinsurers are facing some earnings volatility in 2018 due to a change in accounting requirements for equity securities, Fitch Ratings said in new market commentary. According to ...
AIG Shifts Some Employees to EY in Managed Tax Services Collaboration Deal
American International Group and Ernst & Young will collaborate on managed tax services and technology in a new five-year agreement that also involves a transfer of some employees to EY. Their ...
CEO Zyskind’s Family Injects $300M into AmTrust
AmTrust Financial Services Inc., a provider of specialty property and casualty insurance including workers compensation, surged in New York trading after members of the chief executive officer's ...
AmTrust Spent More than $33M to Clean Up Accounting Issues
AmTrust Financial released its 2017 Q1 earnings statement on May 8, after pursuing an audit and having to restate a few years of earnings due to financial reporting concerns. Cleaning up its ...
AmTrust Delays Annual Report Again to Enable Completion of Internal Audit
AmTrust Financial Services disclosed it will once again need extra time before filing its annual report, due to an ongoing internal audit that requires a longer timeframe. A.M. Best is being patient ...
Trump’s Tax Reform Plans Will Help Some U.S. Insurers, Reinsurers: Morningstar
A cadre of U.S. insurers and reinsurers stand to gain from lower corporate tax rates advocated by President Donald Trump and Republican members of Congress as part of a broader reform effort, ...