We believe insurers need to focus on putting the customer at the heart of everything they do, from strategic decision-making to service and delivery. Insurers who look at building sustainable value for their customers will be rewarded by their investors.


The advent of a new regulatory regime on consumer protection will have a ‘big bang’ effect on the insurance industry. Key to accommodating the upcoming disruption is preparedness and advance planning. At KPMG, we believe that if properly managed, the insurance industry can be both profitable and responsible. 

How KPMG can help

Our audit professionals, tax consultants, actuaries and advisory consultants work to deliver long-lasting value. Our global insurance practice covers 80 global financial centres and provides financial advisory and tax services to many of the world's leading insurers. Our multinational team of professionals provide a full service to all life, non life and reinsurance companies.

Our services

  • Irish GAAP
  • IFRS
  • Solvency II
  • Structuring and advice
  • Transfer pricing reviews
  • Insurance Premium Tax reviews
  • VAT structuring
  • Tax compliance including provisioning

Accounting change

  • IFRS 9, 15 and 17
  • US GAAP modernisation


  • PCF roles across actuarial, risk, compliance and internal audit
  • Professional support to companies


  • Cost reviews
  • Process improvement
  • Data optimisation
  • Fast close
  • Actuarial model upgrade

We can help you to meet your regulatory obligations in relation to:

  • Corporate Governance and Fitness & Probity – we perform independent board performance evaluations required under the Corporate Governance Code for Insurance Undertakings; Fitness & Probity gap analysis; Minimum Competency Code and Pre-Approval Controlled Function (PCF) due diligence reviews; and can advise you on Individual Questionnaire submissions. We can deliver in-depth corporate governance and fitness and probity training specific to your business requirements. 
  • Individual Accountability – working together with KPMG’s Risk Consulting team, we can help you implement the changes required to comply with the enhanced Individual Accountability Framework.
  • Outsourcing – we can review your outsourcing management and oversight framework and help you implement the changes needed to ensure compliance with the Cross-Industry Guidance on Outsourcing, taking into account best practice and regulatory expectations. 
  • Consumer Protection, Anti-Money Laundering and Data Protection – together with Risk Consulting SMEs, we can help you identify and address weaknesses in your Consumer Protection, AML/CFT and Data Protection frameworks. 
  • Risk and Compliance – we carry out independent evaluations of the effectiveness and performance of Risk Management and Compliance functions / frameworks. We can help your Risk and Compliance functions reach the next maturity level and we can also provide you with highly experienced resources to support your Risk and Compliance deliverables.  
  • Risk Mitigation Programme – we can support, and advise you, in addressing Risk Mitigation Programs issued by the Central Bank of Ireland ensuring completion by the given deadline.
  • Insurance Authorisation and Change of Business Plan Application Support – we provide support with, and advice on, applications for (re)insurance, (re)insurance intermediary and third-country branch authorisations; we can prepare the entire application and draft system of governance policies and procedures.
  • Due diligence – together with KPMG’s Deal Advisory team, we conduct regulatory due diligence reviews.
  • Internal Audit – we provide specialist internal audit services, focusing on regulatory themes. 

The Insurance Regulatory team works together with other KPMG specialist teams such as Actuarial, Risk Consulting, Management Consulting, Tax, Audit and Sustainable Futures – to provide solutions to all our clients.

Get in touch

Find out how our specialists can help your business succeed; contact Brian Morrissey, Head of Insurance today. We'd be delighted to hear from you.

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