Accounting for Insurance Companies

Insurance is both a complex and highly regulated industry, and as a result, its accounting needs are both intricate and complicated.

In addition to the complexity of the work itself and the many regulatory rules that govern the industry, insurance is in a state of flux — faced with the challenges of rapidly changing technology, a highly competitive landscape and an increasing amount of consolidation across the industry.

At Stonehenge, we know the ins and outs of the insurance industry accounting well. We can help you navigate the finer points of your financials to ensure you comply with all regulations and following best practices that put you on firm financial footing.

Our insurance accounting professionals can help you with every aspect of your business, from investment strategies and reinsurance to managing your margins and finding ways to preserve capital.

Thanks to the complex nature of the insurance business, insurance companies are required to comply with complex standards that have a direct impact on the preparation of many financial statements, including the IFRS 9, 15, 16, and 17.

The industry’s unique standards are wide-ranging and impact many aspects of an insurance company’s accounting, including the way that they present their financials the way that they manage capital.

Our experienced team can help you navigate these tight and frequently changing standards to make sure that you’re not only in compliance with regulations but well-positioned to run a smart, efficient and effective business.