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.
We work across a wide range of technical areas, including accounting, audit, tax, regulatory, actuarial and risk management. Our methodologies are invariably bespoke and are aimed at bringing the best available advice to our clients.
Audit and Accounting Services
KPMG seeks intimate knowledge of our clients’ businesses to help provide greater efficiencies, better controlled risks and improved operations. In today’s dynamic marketplace, audit and accountancy advisory services that help businesses navigate the risks associated with complex transactions can help sustain their steady growth and development.
Effective Irish and international tax strategies are critical for any company and their complexity is often a challenge. KPMG has the local experience in advising the insurance industry, together with the global reach, to consistently and proactively bring market leading advice to our clients.
Our qualified actuaries have a range of industry and international experience, focusing principally on life insurance and life reinsurance. We also work closely with our actuarial colleagues in the UK who focus on non-life insurance and reinsurance. This means that clients can access a thorough range of insurance actuarial services.
Regulatory Advisory Services
Our regulatory team comes from both a legal and regulatory background, with extensive knowledge of the Irish and international regulation. KPMG assists in the authorisation process with the Financial Regulator, developing compliance frameworks, reviewing and managing regulatory risks, preparing for regulatory inspections, addressing compliance reporting issues and helping to resolve issues with the regulators.
Business Performance and IT Advisory Services
Both the set-up and maintenance of the controls required to manage the risks faced by the insurance industry requires a rigorous approach, and is an area best dealt with early on in the establishment of a new business. While providing assistance in relation to financial risk, operational and control risk, compliance risk management and internal audit risk management, we can also assist in the preparation of procedures manuals and protocols.
Our services include:
- Appointed Actuary Services
- Unit Pricing Investigation
- Assessment of Process Controls
- Due Diligence / Mergers & Acquisitions (M&A) Support
- Actuarial Certification
- Start-up Assistance
- Product Pricing
- Modelling Review
- International Financial Reporting Standards (IFRS) Advice
- New entrant’s Application
- Internal Audit Support
- Fast Close
- Sarbanes-Oxley Compliance Support
- Expert / Independent Witness Work
- Compliance / Regulatory support
- Transfer Pricing
- Insurance Premium Tax Reviews
- VAT structuring
- Solvency II conversion support