Tuesday, September 12, 2006

Hiscox swaps London for the low-tax attractions of Bermuda

HISCOX yesterday became the latest insurer to abandon London for a low-tax Bermudian domicile, as pressure mounted on the Government to reduce the tax paid by UK insurers who sell global reinsurance. Robert Hiscox, chairman, said that the insurer that his father founded in 1946 would swap Britain’s 30 per cent corporation tax rate for Bermuda’s 0 per cent rate by the end of the year. .

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