Insurance carriers are familiar with dealing with a continuation of changing regulatory and financial reporting requirements on their business. You also need to anticipate and estimate the impact of future events to calculate a price for taking uncertainty away from other businesses or individuals. This can all prove to be challenging – and events around the world continue to show how difficult such forecasting and pricing can be.
You can count on us to help you. Our insurance experts understand the business environment in which you operate and can help you as you navigate your path through a changing world.
These changing regulatory and economic effects lead many insurance carriers to the need to evolve their businesses – by organic growth, acquisition or divestment, and by raising capital. For over 100 years we have worked with businesses in the insurance sector to help them deal with the challenges of an ever-changing market.
Our dedicated carrier audit team has a great depth of experience in the insurance sector. The training we give our most junior staff – including study towards Chartered Insurance Institute exams – exemplifies this. We are proud to be among the top seven external auditors of insurers in the UK, and auditors to more Lloyd’s corporate members than any other firm.
As insurance carriers are Public Interest Entities, there are limits to the services we can provide to our external audit clients. Our focus for those external audit clients is to provide a high-quality audit conducted by partners and staff with in-depth experience of insurers whose expertise will ensure the audit runs smoothly and is cost effective. We achieve this by addressing issues and changes at an early stage and working with our in-house actuarial team.
For non-audit insurer clients, we provide a variety of services to meet their changing needs whether in relation to capital raising, taxation, regulatory or accounting advice. Our team includes actuarial experts who, besides working with our audit teams, assist clients in solvency capital modelling, pricing and risk management. Our dedicated governance, risk and control team specialises in providing in-depth assurance to the sector.
Many insurers’ businesses have an international dimension, and we can help them to address the tax and regulatory issues their cross-border trading entails. The global insurance expertise of PKF International means we will provide consolidated advice wherever you are based.