Covid-19: could liquidity challenges be on the way for insurers?

The article was originally published on by Laura J Hay, Global Head of Insurance, KPMG International   In a difficult times, they say, cash is king. Covid-19 has certainly brought an immediate cash and liquidity crunch to many business sectors, who have seen their income streams dramatically dry up. But could this, over time, begin to appl […]

Making sense of solvency, capital and Covid-19 for the insurance sector

The article was originally published on by Laura J. Hay, Global Head of Insurance at KPMG International. The topic of solvency can get complex very quickly. In the wake of Covid-19, questions about insurance company solvency positions have been raised. It's been discussed in some of the regulatory commentaries that have been released; analysts have […]

Covid-19 insurance operations challenges

The article was originally published on by Laura J. Hay, Global Head of Insurance at KPMG International. Insurance is a highly complex business involving multiple processes to administer existing policies, price new business, sell new business, renew policies, address customer inquiries, and process claims. Adding to this complexity is the highly intri […]

Withholding taxes: Why many insurance companies are being taxed twice (and how to claim it back)

Reclaims of foreign withholding taxes have become an absolute must for investment funds, but the practice has proven less common among insurance companies. For years, investment funds have been successfully obtaining refunded foreign taxes on dividends and interest. While this might be due to the more visible net performance of investment funds compared to in […]

What are the specific accounting implications for insurers?

This article was originally published on by Joachim Kölschbach, Partner, KPMG Germany and Bob Owel, Director, KPMG UK. What’s the issue? The COVID-19 coronavirus pandemic is affecting insurance companies in many ways. In addition to customer, people and operational considerations, volatile markets have affected investment portfolios. Stock markets […]

DAC 6: Practical reminders for the financial sector

Tick tock … 31 August 2020 will be here soon. Do you know what to report? By the end of summer, intermediaries, such as banks, asset managers, insurance companies and other professionals active in the financial sector will have to report tax arrangements they have assisted with since 25 June 2018. Tax arrangements that occurred after 1 July 2020 must be rep […]