Advisory
Business Consulting
Strategic guidance to help your business navigate challenges and seize opportunities for growth.
Learn MoreIndustry Expertise
Insurance
Statutory accounting, reserve analysis, premium revenue recognition, and regulatory compliance for insurance carriers, agencies, and MGAs.
Financial Expertise for the Insurance Industry
Insurance companies operate under a unique accounting framework, statutory accounting principles (SAP), that differs fundamentally from GAAP. Loss reserve calculations, premium revenue recognition, reinsurance accounting, and state regulatory filing requirements all demand specialized financial expertise that general accounting firms cannot deliver.
SMAART Company provides specialized accounting and advisory services for insurance carriers, agencies, managing general agents, and insurance holding companies. We navigate the complexities of statutory financial reporting, risk-based capital calculations, and the multi-state regulatory compliance that insurance entities face.
Core Directives
Statutory Accounting Expertise
Reserve Analysis
Regulatory Compliance
Operational Milestones
01
Entity Assessment
Review your current statutory reporting, reserve methodologies, and regulatory filing compliance.
02
Compliance Framework
Strengthen statutory accounting processes, reserve documentation, and regulatory filing procedures.
03
Financial Reporting
Implement accurate SAP-basis reporting, GAAP reconciliation, and risk-based capital monitoring.
04
Ongoing Advisory
Continuous regulatory monitoring, examination preparation, and strategic financial guidance.
Included Services & Outcomes
Statutory Financial Statement Preparation
Loss Reserve Analysis & IBNR Calculations
Premium Revenue Recognition
Reinsurance Accounting
Risk-Based Capital Calculations
Multi-State Regulatory Filing
Insurance Agency Commission Accounting
Insurance Tax Planning & Compliance
Insurance Finance Demands Statutory Rigor.
SMAART's insurance practice understands statutory accounting (SAP vs GAAP), reserves analysis, reinsurance accounting, and regulatory reporting for carriers and brokers.
FAQ
Questions &
Answers
Get answers to the most common questions about our insurance services.
Yes. SMAART prepares annual and quarterly statutory financial statements in compliance with NAIC requirements and state insurance department regulations.
Absolutely. We prepare documentation, coordinate with examiners, and provide support throughout the financial examination process.
Yes. We serve insurance carriers, agencies, MGAs, and insurance holding companies, each with their own accounting and regulatory requirements.
SMAART handles insurance company tax planning including discounted reserve deductions, proration rules, and the unique tax provisions applicable to insurance entities.
Insure Your Financial Compliance.
Partner with SMAART for insurance industry accounting, statutory reporting, and the regulatory compliance expertise your organization demands.
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