Big U.S. property-casualty insurers succeeded in closing what they say is a loophole permitting rivals to rack up profits and move jobs to Bermuda, Switzerland and other low-tax locales, according to lobbyists for both sides. The U.S. carriers have spent the past couple months pushing for tougher tax treatment in the Republican tax plan poised for approval in the coming days. The goal was to end what their Coalition for American Insurance says are incentives for insurers “to move their headquarters to low or no-tax jurisdictions,...

Source: Wall Street Journal December 16, 2017 16:36 UTC