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| Lowtax Network Sites |
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| TreatyPro: Online
tax treaty resource. |
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| IoM Revises Insurance Regulations |
by Jason Gorringe, Tax-News.com, London
Wednesday, December 21, 2011
The IoM's Insurance and Pensions Authority has issued the Insurance (Solvency) (Amendment)
Regulations, which were laid before the island's legislative assembly on December
13, 2011.
The Insurance (Solvency) (Amendment) Regulations 2011 amend the Insurance
Regulations 1986, the Insurance (Protected Cell Companies) Regulations 2004
and the Insurance (Limited Partnerships) Regulations 2004.
The new regulations provide for the treatment of contingent debt assets for
the purposes of calculating the minimum margin of solvency of an insurer. In
addition, they extend the period of admissibility of certain debt assets for
the purposes of calculating the minimum margin of solvency of an insurer.
The amendments are to come into force from December 31, 2011.
A comprehensive report in our Intelligence Report series
which studies the 20 main offshore jurisdictions which offer captive insurance
regimes is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report11.asp
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