Risk Factors Update Summary
- Increase in prior year reserve development from $79 million to $267 million, reflecting a significant change in liabilities.
- Addition of "stockholder" to "Reputational Risks" section, highlighting risks related to anti-corruption regulations. This change emphasizes the importance of shareholder activism.
- Introduction of potential Bermuda corporate income tax post-2025, indicating a significant future financial impact.
- Inclusion of "U. S. federal income tax" for non-U. S. subsidiaries, indicating potential tax liabilities and impact on financials.
- Mention of potential adverse effects due to changes in tax laws and treaties, emphasizing the impact on financial results.
- Change from "shareholders" to "stockholders" in various sections, ensuring consistency in terminology.
- Addition of details on tax governance principles and Grey List inclusion, highlighting regulatory risks and compliance efforts.
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.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1091748&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.