Higher US taxes, regulation and falling rates flagged up

Non-US reinsurers face heavier US taxes aimed at raising up to $16bn and cutting the tax advantages of companies based in Bermuda, Switzerland or other lower-tax jurisdictions, the FT reports.

EU regulators may not approve of US regulation being tough enough compared with its Solvency II capital requirements.

These will be the main issues at Monte Carlo, the paper says, in a lengthy article.

Reuters reports reinsurers insisting they will maintain rates but brokers, credit rating firms and others claiming rates will continue to fall.