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PKF UK and Ireland

The fastest growing major accountancy network in the UK and Ireland

Insurance

Insurance

How can we help you?

Our network of independent firms provide audit and advisory services to insurance companies, syndicates, mutual insurers and brokers in the UK & Irish markets. We have experienced teams who have in-depth knowledge of the operational, regulatory and financial challenges facing the insurance industry.

In fact, here’s a flavour of what we can offer:

  • Experience and depth of expertise
  • Deep experience of the global insurance market
  • Worked in the insurance market for over 100 years
  • A comprehensive knowledge and technical understanding of the workings of the industry
  • Dedicated insurance partners and experts all qualified in the Chartered Insurance Institute award
  • Strong experience in managing local and global insurance projects

Our services:

Audit and advisory

Our approach is risk-based and our team is expert in identifying and testing the key controls and other risk mitigation strategies that clients have put in place. We provide value adding recommendations and have assisted clients in embedding risk management processes into their day to day operations. The next three years will be challenging. Just as insurers get to grips with Solvency II, they are going to be faced with a new accounting standard which will change the way in which firms account for insurance transactions. We are able to provide expert advice to help insurers face up to these financial reporting challenges.

Internal audit assurance

The more robust governance framework required under Solvency II is causing firms to look at the way in which internal audit services are provided. Some firms are entering into partnership arrangements with firms who can provide expert resources on a co-sourced or outsourced basis to compliment in-house internal audit teams. Our member firms offer this partnership solution.

Regulatory

We provide pragmatic advice to our clients in their dealings with all the regulatory bodies. When we identify regulatory breaches, we help our clients develop remediation plans and advise them as to how they should face the regulators.

Corporate Finance

We offer the full range of corporate finance services and have worked with businesses during all stages of their life cycle – from helping them during the start-up phase through to their subsequent listing. We regularly carry out due diligence assignments and have been involved in a number of projects relating to insurance companies and insurance intermediaries alike. We can assist in identifying funders who seek to provide finance to facilitate deals and advise businesses which are interested in carrying out transactions.

Forensic

We have acted as experts in a number of high profile cases involving complex, technical insurance issues. In a market that is dominated by the ‘Big 4’ accountancy firms, we have few conflicts and provide a credible alternative.

Tax

Our tax professionals provide a full range of corporate tax planning and compliance services. We understand the tax regime in all major jurisdictions and can advise on international tax structures. Our indirect tax specialists offer IPT and VAT consulting services to both intermediaries and insurers in the UK and internationally. We regularly advise on the tax consequences of major transactions, such as acquisitions and disposals, to ensure unintended tax consequences do not arise. We act for a number of multinational companies and, as more and more companies opt to appoint different firms as auditors and tax advisors, our services continue to be in demand.

IT

We work with insurance clients to find and apply the best, most cost-effective IT solutions. The team regularly performs risk-based reviews of IT operations, incorporating governance, strategy and planning, advisory and consulting, concentrating on areas where failure would have the greatest impact (Cyber Security & GDPR Regulatory Obligations). They provide advice to enable clients to make informed decisions about their technology needs and the effective management of IT projects.


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