We believe insurers need to focus on putting the customer at the heart of everything they do, from strategic decision-making to service and delivery. Insurers who look at building sustainable value for their customers will be rewarded by their investors.
Regulation
The advent of a new regulatory regime on consumer protection will have a ‘big bang’ effect on the insurance industry. Key to accommodating the upcoming disruption is preparedness and advance planning. At KPMG, we believe that if properly managed, the insurance industry can be both profitable and responsible.
How KPMG can help
Our audit professionals, tax consultants, actuaries and advisory consultants work 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. Our multinational team of professionals provide a full service to all life, non life and reinsurance companies.
Our services
Audit
- Irish GAAP
- US GAAP
- IFRS
- Solvency II
Tax
- Structuring and advice
- Transfer pricing reviews
- Insurance Premium Tax reviews
- VAT structuring
- Tax compliance including provisioning
Accounting change
- IFRS 9, 15 and 17
- US GAAP modernisation
Outsourcing
- PCF roles across actuarial, risk, compliance and internal audit
- Professional support to companies
Transformation
- Cost reviews
- Process improvement
- Data optimisation
- Fast close
- Actuarial model upgrade
Regulatory
- Independent Actuary for portfolio transfers
- "Skilled Person" for CBI exercises
Capital
- (Partial and full) Internal model validation
- USP support
- Capital optimisation
Authorisation
- Support on application to new entrants
Risk function support
- Review/build of risk frameworks including governance, risk appetite statements, risk registers and risk policies
- Review/build of risk operations including risk oversight, reporting, data, systems and models
- Review and development of capital management policies and plans
- Review of effectiveness of risk functions
Transaction support
- Pre-deal evaluation
- Financial due diligence
- Vendor due diligence
- Contact assistance
- Integration advisory
- Bid services
- M&A tax
- Vendor assistance
- Stock exchange and regulatory reporting
Get in touch
Find out how our specialists can help your business succeed; contact Brian Morrissey, Head of Insurance today. We'd be delighted to hear from you.
