Insurance & reinsurance

PwC’s Insurance and Reinsurance practice is a leading provider of professional services to life, commercial, captive, and casualty insurers and reinsurers, and insurance brokers.

In Bermuda, our insurance industry team comprises over 100 professionals. We advise our clients not only on GAAP, statutory and SEC reporting issues, but also in the tax, actuarial, regulatory and structuring implications of new ventures or products. As the reinsurance and capital markets continue to converge, we remain at the forefront of innovative developments such as insurance-linked securities and are well-positioned to advise how sponsors and investors can take full advantage.

Our experience is comprehensive. Currently we are either auditors of, or provide significant consulting and other services to, more than half of Bermuda’s top tier insurance and reinsurance companies. We are also auditors and business advisors to more than 300 captive insurance clients ranging from small single-parent captives to large complex association captives.

We provide leading-edge services in a local context. This means identifying and bringing to bear, for the benefit of our clients, the finest resources our global network of firms can offer, wherever those resources may be situated. We have particularly close relationships with our firms in New York and London as we work with these colleagues frequently.

We have been engaged in a number of large systems implementation projects, business integration and business process reorganisation projects, and international tax planning assignments. We have assisted insurance clients in establishing and evaluating internal audit services and are currently involved with the delivery of internal audit outsourcing services.

Our insurance actuarial practice is led by an experienced consulting actuary and Fellow of the UK Actuarial Institute. Our actuarial team provides clients with:

  • reserving advice
  • pricing feasibility studies
  • reserve certification and audit support

Our insurance tax practice provides both our commercial and captive insurance clients with specialised tax consulting and compliance services designed to fit the unique needs of the offshore insurance company, including:

  • offshore structuring to minimise the US tax exposure to the company and/or its US owners
  • focused tax compliance services often required by the offshore insurance company and/or its US owners
  • Tax dispute resolution services

Our Corporate Finance and Corporate Recovery practice is well-established and involved in several large complex assignments dealing with innovative solutions for both solvent and insolvent insurers and reinsurers.

Whether assisting in the structuring and formation of a captive insurer, providing complex accounting, tax, regulatory or consulting assistance to a large commercial market insurer or assisting in the restructuring or winding-up of troubled insurance companies, our proven team of insurance professionals is well qualified to assist.

Contact a Bermuda-based industry professional to discuss your unique business concerns.