FL S0484

Urges Congress to oppose new discriminatory taxes that would limit the use of reinsurance from companies located outside the United States.

Argues that affiliated reinsurance serves a valid risk-transfer purpose and provides additional primary insurance capacity in areas such as crop, windstorm, liability, and aircraft insurance.

References a Brattle Group study concluding that policies reducing use of offshore affiliated reinsurance would result in a 20 percent reduction in reinsurance supply and significant increases in primary insurance prices.

States that offshore insurance groups currently pay taxes on reinsurance transactions equivalent to those paid by United States-based insurance groups.

Requires copies of the memorial to be sent to the President of the United States, President of the Senate, Speaker of the House, and all members of the Florida congressional delegation.