Providing specialized services and industry expertise in attest, accounting, tax and consulting to help insurers assess and manage risks in a market with complex regulations and compliance issues. Our goal is for you to focus on key strategic business competencies, savings, and growth.
The highly regulated insurance industry is a core focus of Mazars in the US Financial Services Practice. Our insurance practice provides audit and services to U.S. and international property & casualty companies, life & health companies, reinsurers, captives, MGAs, MGUs, TPAs, policy holders, and regulators. The breadth and depth of our industry experience – together with our prominent international presence – provides clients with superb service and expertise. Our client base includes both life and health and property and casualty companies, ranging in size from start-ups to some of the largest multinational insurers.
Each member of our dedicated insurance group – from professional staff through partners – have years of industry experience and possesses a unique understanding of the market and business practices. Through our team approach, clients receive extensive knowledge and understanding of the marketplace, business practices, and ever-changing regulations unique to the insurance industry. Mazars has a proven commitment to serving our clients’ needs.
ASC 326, the current expected credit loss (CECL) standard, has substantially changed how entities, including insurers, estimate credit losses on financial assets measured at amortized costs.
The International Financial Reporting Standard 17 (IFRS 17) for Insurance Contracts represents a significant shift in the accounting landscape for insurance companies. Developed by the International Accounting Standards Board (IASB) and implemented in January 2023, IFRS 17 aims to enhance transparency, comparability and understanding of insurers' financial statements.
Mazars’ Insurance Audit and Accounting Services Practice provides reliable and efficient services to our clients by staying on the forefront of industry issues and accounting standards.
In this dynamic and demanding environment, Mazars’ actuaries can provide a wide range of services for companies of all sizes, industries and corporate structures.
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Anthony Stranix Partner, Insurance Practice Leader - Pennsylvania