Insurance Audit and Tax

One of our most significant client services is performing insurance audits on either a Statutory (SAP) or Generally Accepted Accounting Principles (GAAP) basis. Our audit clients range in size from town mutual (or farm or county mutuals) insurers with as little as $1 million in premium to companies with nearly $1 billion in premium.

 Audits are performed for property and casualty (P&C) insurers, life insurers, fraternal life organizations, reinsurers, and health insurers. These companies include mutual insurers, stock companies, risk retention groups, captives, and reciprocals. We also audit the pension plans of our insurance clients when audits are required.

 We are dedicated to the insurance industry it is our only focus. Our extensive insurance knowledge provides for efficient and effective audits. We are committed to providing our audit clients timely and accurate reporting, an experienced audit team, with minimal turnover, and appropriate communications throughout the entire process.

Our insurance tax services include preparation and review of federal and state income and franchise tax returns, estimates, extensions, and refund claims. We also provide insurance tax consulting services related to:

  • Formation, acquisition, and reorganization of insurers
  • Sales, liquidations, and other dispositions
  • Annual and long-range income tax planning
  • Planning of asset acquisitions and dispositions
  • Training on preparing current and deferred tax provisions
  • Consulting regarding the application of tax rules
  • Reviewing current and deferred income tax provisions