Proactive Guidance and Insights to Ensure Your Success
Changing customer demands, new technology and increasing regulations put a tremendous strain on insurance carriers. Anticipating these challenges can be the difference between success and failure as companies try to remain competitive and innovative. Having the right strategic partner on your side makes all the difference.
Bennett Thrasher serves a diverse group of insurance carriers and related entities. We understand the industry’s unique pressures and opportunities and provide our clients with the advice and attention they need to run their business effectively.
The captive insurance market is growing at an unprecedented rate, driven by opportunities to protect assets, mitigate risks and contain costs. Captive account managers need to work with an accounting firm with insurance industry expertise to keep their portfolio companies in compliance with a diverse range of complex requirements. Bennett Thrasher can provide that expertise and help provide the financial insight you need to be successful.
Our audit and tax professionals serve a number of captive insurance companies domiciled throughout the United States and internationally, including single-parent captives, association and group captives, cell captives and risk retention groups.
Our extensive knowledge of the insurance industry allows us to help captive insurance companies fulfill their business objectives through comprehensive accounting and tax advisory support, including:
- Financial statement audits
- Federal and state income tax planning and preparation
- Recommending captive managers, attorneys, actuaries and other professionals who can help establish and manage a captive insurance company
- Representing taxpayers during IRS examinations
- Increasing tax savings for micro-captives through preparation of the 831(b) small company election
With dozens or even hundreds of captives in your portfolio, you don’t have time to worry about whether each annual audit and tax filing is completed correctly and on time-or to spend time constantly retraining auditors on the nuances of the insurance industry.
At Bennett Thrasher, each captive insurance client receives attention from our most experienced professionals. While we deliver a high level of expertise, we also are able to maximize our efficiency to manage the cost. As auditors of note for several large captive managers, we are able to leverage critical mass to build additional efficiency into our audit process.