Ireland

Insurance 

Securing business advantage in the highly competitive insurance sector is a significant challenge to boards and their reports. 

At the heart of our insurance offering are our people — audit professional, tax consultants, actuaries and advisory consultants who think both practically and strategically to deliver long-lasting value. Our global insurance practice covers 80 global financial centres and provides financial advisory and tax services to many of the world's leading insurers. We are also involved in both professional and industry bodies and take an active role in pursuing regulatory, accounting and tax issues affecting the industry.

 

Our multinational team of professionals can provide a 360 service to all life, non life and reinsurance companies.

 

Actuarial

Our dedicated Actuarial practice combines technical knowledge and rigorous processes with wide-ranging commercial and market experience to provide progressive, high quality and flexible advice.  Our team works across a wide range of areas, including risk management, regulatory, tax, advisory and accounting lines, providing the full breadth of services to our clients.  We are also involved in both professional and industry bodies and take an active role in pursuing regulatory, accounting and tax issues affecting the industry.

 

Click here to read more about our actuarial services.

 

Solvency II

Solvency II is intended to create a framework within which European insurance and reinsurance regulation operates. Its introduction is a highly complex and challenging process and one which KPMG member firms have been heavily involved to date in assisting our clients.

 

The delays to Solvency II present insurers with an opportunity to step back and think about how they can fully embed risk management within the business.

Publications

Accounting for financial instruments is changing

Accounting for financial instruments is changing

 

Now that the IASB has published a completed standard on financial instruments accounting – IFRS 9 Financial Instruments (2014) – the real work for insurance companies is just beginning.

Central Bank of Ireland: Insurance Update

Reserving Requirements for Non-Life Insurers and Non-Life and Life Reinsurers

 

We can guide you through the process of Central Bank of Ireland authorisation as a Life, Non-Life or Reinsurance Undertaking. Read our quick guide to this process. 

Insurers face shared risk of escalating natural disasters

 

In response to dramatic weather events that are confronting every continent, a wave of global, multilateral initiatives is aiming to improve the world’s disaster resilience. Now is the moment for insurers to collaborate with public, private and NGO partners, to face a mounting issue that is very relevant to all communities and to industry sustainability

Solvency II from building ERM networks to empowering risk management (PDF, 185KB)

 

The opportunity Solvency II delays present to insurers.

Towards the final frontier: Perspectives on insurance accounting proposals (PDF, 2.2MB)

 

The progress towards implementing a more common framework for insurance reporting.

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IFRS Newsletter: Insurance - Issue 42, July 2014

 

This newsletter highlights the IASB’s discussion in July 2014 on its insurance contracts project. 

 

Read past issues.

Results Of EIOPA Long-Term Guarantees Assessment (PDF, 2.39MB)

June 2013

 

See also: Solvency II Long-term Guarantee Assessment (PDF, 1.1MB)

February 2013

 

Solvency II Long-term Guarantee Assessment (PDF, 513KB)

February 2013

 

In July 2012 the trilogue parties agreed that an assessment should be performed of the impact of the Long-Term Guarantees measures (the LTG package – or LTGP).

Insurance contacts

liam lynch, partner

Liam Lynch

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Partner & Head of Insurance

liam.lynch@kpmg.ie

+353 1 410 1734

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hubert crehan, partner

Hubert Crehan

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Partner & Head of Financial Services Audit

hubert.crehan@kpmg.ie

+353 1 410 2629

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