The Government Accountability Office has cited a number of insurance companiesas having subsidiaries in areas classified as tax havens.
They include American International Group Inc., Berkshire Hathaway, Hartford Financial Services Group Inc., MetLife Inc., Travelers and UnitedHealth Group Inc.
Sen. Byron Dorgan, D-N.D., and Carl Levin, D-Mich., requested the report as part of their continuing effort to impose tighter controls on corporations’ use of offshore tax havens to reduce their U.S. taxes.
Dorgan and Levin contend that U.S. companies use offshore tax havens to save an estimated $100 billion in taxes each year.
They also said in a statement “that many of these companies are paid with taxpayer dollars, and some have also received billions of dollars in taxpayer bailout funds.”
Other insurers cited in the report include Aetna Inc., Allstate Corp. and Prudential Financial Inc.