Incorporation Services
The process of incorporating and seeking a regulatory licence for an insurance undertaking, whether insurer, broker or reinsurer, can be complex, arduous and time-consuming.
The experience and commitment of Kane's compliance team ensures that every stage in this process is handled efficiently and effectively, reducing timeframes, managing complexities and guaranteeing that every compliance demand is met.
The Process
Implementing a three-phase process, our specialists provide comprehensive advice on all areas of incorporation.
In Phase 1, we advise on the insurance regulatory requirements of that particular jurisdiction, including:
- Capital and solvency requirements
- Roles and responsibilities
- Internal management systems
- Credit, market, liquidity and operational risk controls
- Board structure
- Due diligence requirements
In Phase 2, we advise on the strategic elements of the business plan and financial forecasts, including:
- High level strategy for establishing the business
- Scope of business
- Organisational structure chart
- Detailed 3 or 5 year financial projections
- Investment strategy
- Details of outsourcing arrangements
- Internal and external audit functions
In Phase 3, we advise on the completion of all relevant application forms and documentation and make the formal submission to the regulator. This will include completion of:
- Application for incorporation and registration
- Licence application
- Financial projections
- Procedure manuals
- Compliance manuals
Compliance assured
The breadth of expertise encompassed by our insurance compliance specialists provides our clients with complete peace of mind throughout the incorporation process. At every stage, you can rest assured that you are fully compliant.