New US inversion rules could hit P&C earnings and M&A

Tighter US Treasury rules to tackle so-called "inversion"
deals and earnings stripping through related-party debt could
impact global P&C profits and M&A activity, according to
Morgan Stanley analyst Kai Pan.
Legislators have been targeting the practice of corporate
inversion where a domestic company merges with a smaller overseas
company in a bid to redomicile to a new jurisdiction not subject to
US corporate tax rates.
After inversion rules were initially tightened last November, a
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