On the Czech insurance market, emphasis is put on transparency and meeting the regulatory requirements that are increasingly strict. Czech insurers are exposed to growing pressures on profitability and efficiency as well as new regulatory requirements, especially the requirements of Solvency II. The implementation of the second phase of standard IFRS 4 (insurance policies) will have a significant impact on the activities of Czech insurers.
Our more than 20 professionals in the Czech Republic and more than 100 professionals in the region of Central and Eastern Europe will be pleased to help you to solve any current problems in the area of insurance. They know our clients’ problems and have extensive experience in the insurance industry.
How can we help you?
- Audit and review of the Company’s statutory financial statements in accordance with Czech accounting standards or with IFRS
- Review and make suggestions of how to improve the area of internal processes, including methods lean, outsourcing and competence centres
- Assessment of current function of internal audit or offer of specialist for a definite time period
- Assessment of internal control environment of the company and improvement suggestion
- Processes optimisation and cost cutting
- Consultancy in the area of financial regulation and compliance
- Optimisation of regulatory reporting
- Help with compliance with requirements of Dodd-Frank legislation
- Preparation of tax-effective structures for insurance companies
- Advisory services related to tax optimal creation of allowances for bad debts, write-offs, minimisation of burden of VAT
- Assistance in establishing branches
- Assistance in launching new insurance products
- Review and improve the distribution strategy proposal for new distribution channels and internet sales
- Review and prepare business strategies
- Advisory services in mergers and acquisitions
- Support in planning and realisation of complex transformation programs
- Support in human resources management in the areas of performance management and preparation of development plans
- Assessment of fraud risk in a Company; detail investigation of fraud behaviour
- Assistance in litigation processes - expert opinions for litigations
- Assistance to clients in case of insurance event
- Assessment of suitability and adequacy of hedge strategy chosen to stabilise income from financial position
- Assistance in creation of reinsurance structures according to chosen reinsurance strategy
- Assistance in implementation of hedge accounting and documentation thereof
- Independent valuation of securities in portfolio of financial position
Did you not find what you were looking for? We will be pleased to discuss topics that are relevant for you, without any engagements.