Risk Factors Update Summary
- Increased reserves for unpaid losses and loss adjustment expenses from approximately $13 billion to $16 billion.
- Adoption of new corporate income tax regime in Bermuda with a statutory rate of 15%.
- Potential decline in volume of loans purchased by Enterprises due to changes in capital framework.
- Expected increase in effective tax rate and aggregate tax liability due to new tax laws.
- Implementation of a global minimum tax of 15% by 136 jurisdictions, impacting tax rates.
- Implementation of "under-taxed profit rule" by certain countries affecting taxable periods from 2024.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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