Services
Insurers
Whether your insurance business needs straightforward compliance support or more detailed financial guidance, we’ll make sure your accounts are accurate, clear and useful. Our approach is practical and jargon-free, so you always understand how your business is performing and what comes next.
Accounting expertise that understands the insurance industry
Insurance brokers aren't quite like other businesses and their accounting shouldn't be treated as though they are.
SWLA Accounting has experience acting for owner-managed insurance brokers across a wide range of specialist markets, including bloodstock, equine, marine, property, construction, medical and general insurance.
We understand how insurance businesses operate, the systems they use and the financial information that matters to their owners. Whether you're running Acturis, SSP or another insurance platform, we can make the accounting straightforward while helping you use your financial information to build a stronger and more valuable business.
We understand insurance broking
Working with insurance businesses means understanding more than a set of annual accounts.
We understand the practicalities of broker accounting, including bordereaux, insurer and client account reconciliations, commission income, claims handling and the interaction between insurance software and the accounting records. That sector knowledge matters. It means we can spend less time learning how your business works and more time helping you improve it.
Our experience spans brokers operating in specialist areas including:
- Bloodstock and equine insurance
- Marine insurance
- Property insurance
- Construction insurance
- Medical and healthcare insurance
- General commercial and personal lines insurance
Bookkeeping that works with your insurance systems
Good financial information starts with good bookkeeping. We can provide a fully or partly outsourced bookkeeping service, working alongside your existing insurance platform and internal team. Rather than duplicating information unnecessarily, we look at how your existing systems work and develop an accounting process around them.
We can help with bookkeeping, reconciliations, management accounts, payroll and regular FCA financial reporting giving you reliable numbers without creating unnecessary administration for you or your team.
Accounts and tax without the complication
We can take care of the annual compliance requirements too. That includes:
- Annual statutory accounts
- Corporation tax returns
- Personal tax returns for business owners
- Payroll
- Companies House requirements
- Tax planning for owners and their businesses
Our objective is simple: keep the compliance under control, identify issues early and make sure you understand what the numbers are telling you.
But for many insurance businesses, that's only the starting point.
Helping you build a more valuable insurance business
The most useful conversations we have with business owners are often not about last year's accounts, they're about what happens next. You may want to grow organically, recruit producers, develop new specialisms, acquire another book or brokerage, improve profitability or prepare the business for an eventual sale. We can help turn those ambitions into a financial plan.
That might include looking at:
- Revenue and recurring income
- Commission and fee income
- Revenue by producer or team
- Client retention
- Insurer concentration
- Staff costs and productivity
- EBITDA and underlying profitability
- Cash generation
- Acquisition opportunities
- Forecasting and funding requirements
- The factors likely to influence the eventual value of the business
Instead of simply reporting what happened last year, we want your financial information to help you decide what to do next.
Connected to the insurance market
Our experience extends beyond accounting.
Through our wider relationships and network across the insurance industry, we have connections with insurance business brokers and other market participants.
That gives us a broader understanding of what is happening within the sector, including consolidation and acquisition activity.
When the time eventually comes to consider succession, investment or a sale, we can therefore help you think about both the numbers and the wider commercial picture.
An accountant for every stage of the journey
You may simply need someone who understands Acturis and can take the bookkeeping headache away. You may need an accountant who can deal efficiently with your accounts and tax. Or you may have built a successful brokerage and be starting to think seriously about growth, succession or an eventual exit.
SWLA Accounting can support you at each stage.