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Ed Leefeldt
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Blogger
Re: News?
Ed Leefeldt   5/4/2012 8:31:21 AM
NO RATINGS
http://mobile.bloomberg.com/news/2012-04-09/evan-greenberg-says-regulators-leading-an-unrelenting-assault-

Noreen Seebacher
User Rank
Blogger
Re: News?
Noreen Seebacher   5/4/2012 8:22:19 AM
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Do you have a link for those comments, Ed?

Ed Leefeldt
User Rank
Blogger
Re: News?
Ed Leefeldt   5/4/2012 8:19:48 AM
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Check out Evan Greenberg (CEO of Swiss-based Ace Insurance) comments on Solvency II, which sets capital-based requirements for EU-based companies. Hey, as Joe E. Brown said about Jack Lemmon in "Some Like It Hot," nobody's perfect.

Noreen Seebacher
User Rank
Blogger
Re: Wake up call?
Noreen Seebacher   5/4/2012 7:59:57 AM
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The US tax code never ceases to bewilder me. I can't understand why "A" is OK but "B" is not.

tokyogai
User Rank
Platinum
Wake up call?
tokyogai   5/4/2012 7:30:27 AM
NO RATINGS
Maybe our members of congress should look at this. It really is time for some serious tax reform. When the UK is a better place to do business than Chicago, you know you need to make a change.

Scott Raynovich
User Rank
Blogger
Re: Why London?
Scott Raynovich   5/3/2012 6:13:35 PM
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Isn't the reason that the AIG unit specializing in mortgage derivatives was based in London cause it was off the radar of US regulators? That ended up working out not so well.

Noreen Seebacher
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Blogger
Re: Why London?
Noreen Seebacher   5/3/2012 4:00:35 PM
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Good question Tenacious. Ed, any thoughts?

Tenacious
User Rank
Platinum
Re: Why London?
Tenacious   5/3/2012 3:25:49 PM
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Well it does make you wonder.  Since when did the UK become a tax haven? Why wouldn't Aon go to the Caymens or maybe the British Virgin Islands?

Drivewaygirl
User Rank
Platinum
Why London?
Drivewaygirl   5/3/2012 3:05:05 PM
NO RATINGS
Seems strange that Aon is relocating to London while Prudential is considering moving out.
Prudential's boss attacked proposed new EU capital rules on Tuesday, saying they risk destroying the insurer's American business and driving its headquarters out of the UK.
 The insurer, which generates nearly half of its sales in Asia, reiterated that it would consider moving its headquarters abroad depending on the outcome of the new rules being debated in Brussels, known as Solvency II, which are due to come into force in 2014. Hong Kong is seen as the most likely destination.


Ed Leefeldt
User Rank
Blogger
Re: News?
Ed Leefeldt   5/3/2012 3:03:14 PM
NO RATINGS
Aon is the world's biggest broker, which is why the issue was worth a fresh look at this time. Also because there's a bill in Congress - sponsored by a Mass. Congressman who's close to Berkley, to flog the overseas crowd. Berkley may be an "old crank" but he still has a lot of influence!

Perhaps the question should be why international pools of capital AVOID the U.S. when it's still the major insurance market in the world ...

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