Insurance

The Insurance Industry has not been left unscathed by the Financial Crisis. In comparisons to banks, insurers have come through the crisis well and except for a small number of exceptions, their existence has not been threatened. The changes in the market also present opportunities. How will existing and new insurers react to the difficult environment to emerge as winners?

KPMG has experienced, interdisciplinary teams offering auditing and advisory services to national and international companies in the insurance sector. Our multidisciplinary approach combines industry expertise and experience in specific fields to deliver added value for our clients. Our staff include proven specialists in life, non-life and health insurance, as well as reinsurance and captives.

KPMG's services for the insurance industry include:

Auditing of financial statements in accordance with IFRS, US GAAP, Swiss GAAP ARR/FER and the Swiss Code of Obligations
Regulatory audits
Accounting advisory services (IFRS, US GAAP, Swiss GAAP ARR/FER)
Internal audits
Mergers and acquisitions
Corporate finance
Forensic
Restructuring and re-domestication
Regulatory and compliance
Project management
Actuarial services and risk management (embedded value, Swiss Solvency Test, Solvency II)
IT advisory services
Internal control systems advisory services
Tax advisory services (corporate and indirect taxes, IES, IPT)
Business continuity management

Many insurance issues also affect clients outside Switzerland. Hence working closely with specialists from abroad is important to us. KPMG's European insurance network can make optimum use of the available know-how and develop tailor-made concepts.

Would you like to be informed regularly about IFRS within the insurance sector?

In our monthly issued IFRS Insurance Newsletter we provide you key developments relating to the joint Insurance Contracts project between the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB).