Barry Rafe has been appointed as a Principal at Professional Financial Solutions. He is a consulting actuary specialising in strategy, governance and operational issues within the financial services industry. Mr Rafe is immediate past president of the Actuaries Institute, and previously held senior positions at Accenture, Trowbridge Consulting, AMP and Mellon Bank.
Not all shareholders of Aon’s stock will be subject toU.S.capital gains tax if shareholders approve the insurance brokerage firm’s changes to move its headquarters fromChicagotoLondon, the firm said.
In a filing with the Securities and Exchange Commission today, Aon says shareholders will receive one Class A Ordinary Share of the newU.K.holding company in “exchange for each share of common stock previously held in AonDelaware.”
The exchange will not change the number of whole shares shareholders hold, Aon said.
The firm goes on to say thatU.S.shareholders “could recognize a capital gain on the receipt” of the shares.
Aon says that those who own Aon stock outright could be subject to capital gains taxes, whereas those with restricted or deferral arrangements may not be subject to capital gains taxes.
The filing, which is a copy of a letter sent to shareholders, advises shareholders that they should contact a tax advisor to understand how their holdings will be treated.
Aon says it has hired PricewaterhouseCoopers “to provide assistance to colleagues that have additional questions about how this transition will work and what it means for your holdings.”
According to a piece in The New York Times, the move from theUnited States may not have sat well with founder Patrick Ryan. The story cites
MCS Group has appointed Michael Turnbull as National Operations Manager, based in its Sydney head office. Mr Turnbull previously held a range of senior positions at Royal & SunAlliance and Lumley Insurance, and has 17 years’ industry experience.
The Supreme Court will hear arguments on the constitutionality of the healthcare reform law and other issues pertaining to it for three days starting March 26.
Analysts and lawyers do not expect a decision in the case until late June.
The hearings will open March 26 with a one-hour debate on the threshold issues of whether a federal law called the Anti-Injunction Act makes challenges to the mandate premature until 2015.
George Patton Jr., an appellate lawyer with Bose McKinney & Evans LLP in Washington, D.C. and Indianapolis, explains that anti-injunction deals with whether the Court must wait until a tax is imposed on those who don’t want to buy individual insurance, and then a lawsuit filed, before it can act on the case. T
Maincom Services has appointed Adrian Morton as Business Development Manager, based at its Brisbane office. Mr Morton has more than 14 years’ experience working for a combination of property repair related suppliers and loss adjusters within the insurance industry in Australia and overseas.