Florida Governor Jeb Bush Signs Into Law Landmark International Insurance Legislation

MIAMI, May 27 /PRNewswire/ — Florida Governor Jeb Bush yesterday signed into law landmark legislation that paves the way for foreign insurance companies to sell life insurance and annuity contracts from Florida to non- U.S. residents. “Florida has taken the lead in adopting legislation that can create thousands of new, high-paying jobs in Florida while elevating Florida’s stature as an international insurance center,” said Shutts & Bowen Senior Partner Bowman Brown, who originated the idea as Chairman of the Beacon Council Financial Services Task Force, Miami-Dade County’s public/private economic development agency.”An economic study conducted by the Beacon Council estimated that this new law could generate up to $2.7 billion annually through the sales of one million family policies when the administrative work is conducted in Florida.”….

We are unable to display this entire news item because this article’s licensing expires after a certain amount of time. This article was originally published by PRNewswire and it may be available at their website. Sorry for the inconvenience.