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The Club’s Autumn Review 2016provides the latest perspective on its financial position.
Overall, the Club’s financial position remains strong with the free reserves and capital standing at $571million and total assets of US$1.6 billion.
For ease of reference a pdf of the Autumn Review 2016 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