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NU Online News Service, July 14, 3:46 p.m. EDT

WASHINGTON–Domestic and foreign insurers traded barbs–although the foreign insurers did so anonymously–at a congressional hearing today over whether the U.S. should tighten rules dealing with the ceding of premiums to offshore parent companies by U.S. affiliates.

The fireworks took place at a hearing today before the Subcommittee on Select Revenue Measures of the House Ways and Means Committee over two proposals designed to restrict the ceding of premiums offshore.

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