The insurance industry is facing an uncertain, unstable and highly complex economic and financial environment compounded by major regulatory changes.
As a leading provider of audit and business advisory services, we have substantial experience in the international insurance market. Our strong business model ensures that we can combine a global scope with the listening skills and service levels of an individual business partner. New challenges for the Insurance Industry:
- A regulating environment in the Solvency II framework, which implies a new perspective in business management, information systems, financial reporting and particularly in their Corporate Governance system.
- Continually evolving accounting references: NIIF 4 stage II, NIIF 9, S2 Economic Balance, new regulations for accounting consolidation, etc.
- Increasingly complex reinforced financial reporting requirements with regards to Embedded Value, Pillar III of S2, etc.
- Need to identify, measure and manage risks. In particular, financial risks related to market fluctuations, but also operating risks, counterparty, underwriting…
Our response towards expectations:
- A financial audit team combining financial experts and actuaries, clearly distinguishing us from other large firms of the sector, and allowing us to provide a unified consistent approach to all of our statutory audit works.