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Government To Measure Insurance Imports, Exports

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NU Online News Service, Nov. 30, 2004, 6:16 p.m. EST

The Bureau of Economic Analysis is preparing to send out a major international financial services survey.[@@]

The BEA, an arm of the U.S. Department of Commerce, will be asking insurers, insurance brokers, banks, investment companies and other financial services providers about purchases and sales of financial services involving “unaffiliated foreign persons.”

The survey, which is conducted every 5 years, also will ask U.S. financial services providers about transactions involving foreign affiliated companies, such as sister companies or parent companies with headquarters in Europe, according to the BEA.

Some of the questions about transactions with foreign affiliates are new, the BEA says.

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The BEA conducts the survey to improve officials’ understanding of international financial services trade and to help businesses identify market opportunities.

The surveys will go out in January 2005, and the completed questionnaires will be due March 31, 2005.

The survey is mandatory for U.S. financial services providers with more than $3 million in covered international transactions, but it is voluntary for other companies.

More information is on the Web at //a257.g.akamaitech.net/7/257/2422/06jun20041800/edocket.access.gpo.gov/2004/pdf/04-26367.pdf