Our insurance practice comprise multi-disciplinary teams, led by senior partners with extensive experience.
Our insurance practice is led by senior partners with extensive industry experience.
Today’s insurers face a wide range of complex challenges, from navigating market uncertainty and evolving consumer demands to outpacing digitally savvy new competitors. In particular, the disruption brought by ‘Insurtech’ and the evolution of 21st century ‘megatrends’ presents opportunities for insurers, reinsurers, and brokers, to redesign their strategy and explore growth through product innovation or emerging markets.
As these opportunities have emerged so too have enhanced regulatory and accounting requirements. Businesses should remain vigilant of current regulatory requirements including enhanced compliance and the capital requirements of the Own Risk and Solvency (ORSA) and Solvency ll regimes in addition to the upcoming financial reporting requirements of IFRS 17: Insurance Contracts applicable for accounting periods beginning on or after 1 January 2021.
Guernsey’s insurance industry is renowned for being innovative from both a product and regulatory perspective and is therefore well placed to meet the challenges and opportunities brought by the wider evolution of the insurance industry. From its continued expertise in captive insurance through to its industry leading role in longevity risk swap products, insurance linked securities (‘ILS’) and the reinsurance market, Guernsey not only has a proven track record but is also at the forefront of new insurance developments.
KPMG in the Channel Islands has a multi-disciplinary insurance team which is led by senior partners with deep industry knowledge, strong client relationships, and access to market leading insurance expertise within the wider KPMG network. Our client base includes ILS funds, reinsurance companies, longevity swap structures, as well as traditional captives.