Over half of insurance CEOs see tax burden as threat
Tuesday, 07 07 2015, Category: Insurance and Reinsurance, Country: World
More than half (64 percent) of insurance chief executive officers view the increasing tax burden as a threat to their growth prospects.
This is the finding of PwC’s insurance chief executive officer (CEO) survey, which consisted of 80 insurance CEOs in 37 countries. Two years ago, only 57 percent saw the tax burden as a threat to growth prospects.
A recent report by PwC highlights the impact regulatory developments are having on insurers’ operations.
It added that tax functions within insurance companies may find it difficult to cope with the challenges of adapting and having the agility required to deal with the constant change in the tax environment. This is in addition to complimenting the way insurance is changing towards real-time pricing and customer-focused solutions.
Source: Intelligent Insurer