The Club’s October Review 2015 provides the latest perspective on its financial position.
Overall, the Club’s financial position remains strong with the free reserves and capital standing at $559million and total assets of US$1.6 billion.
For ease of reference a pdf of the October Review can be downloaded from the right hand column or from the Publications section of the website.
IRS Closing Agreement
The UK Club has entered into a closing agreement with the United States Internal Revenue Service (IRS). This closing agreement secures exemption for the Club from Section 4371 Excise Tax, which applies to insurance premiums paid to a foreign insurer or reinsurer when the exemption is based on the provisions of an income tax treaty to which the United States is a party. The UK Club is now listed on the IRS website as a party to a closing agreement with the IRS.
For more information on the IRS closing agreement, please see the IRS website http://www.irs.gov/Businesses/International-Businesses/Exemption-from-Section-4371-Excise-Tax