PKF’s specialist insurance practice works with companies across the insurance distribution chain (intermediaries, MGAs, the Lloyd’s market and risk carriers) as well as across all classes of business. In addition to external audits, our team has experience of supporting clients in many technical areas.
How we can help:
The dynamic nature of the insurance sector means that there is a steady flow of technical accounting challenges for finance team to contend with. We assist our clients in numerous ways, including:
- Assisting with new accounting standard implementation, for example IFRS 17
- Accounting policy changes or queries, brought about by new acquisitions or other businesses developments
- Changing your accounting framework – help with impact / gap assessment, whether moving to or away from IFRS.
Financial statement disclosures
Whatever changes your business undergoes – whether driven by new accounting policies or other developments – it is vital that the financial statement disclosures are compliant with the relevant laws and standards, and add clarity and understanding for users of those financial statements. We can support you in the following areas:
- Financial statement / disclosure assistance – either reviewing or helping to draft notes to the financial statements
- Corporate reporting – ESG reporting / assurance to ensure your reporting is consistent with the latest standards and market expectations.
Whilst Solvency II is well established as a regulatory reporting regime, specific business developments can have an impact on capital and reporting. Our Actuarial team can help you assess the impact of such developments.
We can also assist start-up insurers in interpreting Solvency II regulations for the first time.