Accounting Firms for Insurance Businesses
Insurance companies, agencies, and brokers deal with complex accounting standards like SAP, GAAP, and IFRS 17—not to mention reserves, investment income, and regulatory filings. Find accounting firms who understand the intricacies of the insurance industry, from statutory reporting to risk-adjusted financials. Need to outsource something else? Search for proactivefinancial advisorsandfractional CFOson Sam’s List too. Make sure to check the reviews, it’s one of the most important parts of your vetting process!
Featured Accountants
5 Client Reviews
"After enduring years of unresponsive and unhelpful accountants, especially during the crucial tax season, we found Pablo and Kevin, and our relief is immense. Whether you're a new business looking for basic advice or an established company needing detailed insights for strategic planning, they are always there to answer any questions. I highly recommend their services to anyone in my network."
Flat rate single source accounting, bookkeeping and tax solution for small to medium size businesses.
5 Client Reviews
"As our fractional CFO, Matt handles all financial aspects of our business. Beyond standard bookkeeping, budgeting and taxes, Matt is a part of our team who is able to help drive the business forward advising on all financial aspects of our organization.
Matt is a true partner and resource for our team and I'd recommend that any small business work with him."
Matt is a true partner and resource for our team and I'd recommend that any small business work with him."
Accountants
12 Client Reviews
"How was your experience with Iota Finance? My experience with Iota Finance has been exceptional. They handled both my business and personal taxes, in addition to providing high-quality bookkeeping and advisory support. When I fell behind on submitting my tax documents, they were proactive about filing an extension on my behalf so I wouldn’t miss any deadlines. That level of attention to detail and client care really stood out to me—they made sure everything was handled smoothly, regardless.
I also love that their client portal and pipeline system gives me real-time visibility into the status of each of my projects. Whether it's tax prep or...
I also love that their client portal and pipeline system gives me real-time visibility into the status of each of my projects. Whether it's tax prep or...
Construction is a tough business. It's even tougher when you:
-Pay too much in taxes
-Lack the financial insights needed to make decisions
-Waste valuable time DIY-ing your books and records
We help contractors simplify their finances, maximize their profits, and free up their time.
-Pay too much in taxes
-Lack the financial insights needed to make decisions
-Waste valuable time DIY-ing your books and records
We help contractors simplify their finances, maximize their profits, and free up their time.
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How to Find an Accountant for Your Insurance Business
Whether you're running an insurance agency, brokerage, or carrier, your accountant should understand SAP, GAAP, loss reserves, and compliance reporting. Look for financial pros who’ve supported other insurance businesses and can help you stay compliant, file with confidence, and manage long-term capital strategy.
FrequentlyAsked Questions
Do insurance companies need accountants?
Yes. Insurance companies rely on accountants to manage statutory financial statements, ensure regulatory compliance, oversee reserves, and track investment income—all of which are vital to financial health and licensing requirements.
What kind of accounting do insurance companies use?
Most insurers in the U.S. use Statutory Accounting Principles (SAP), which prioritize solvency and regulatory transparency. Public insurers must also follow Generally Accepted Accounting Principles (GAAP) for SEC reporting.
What does an insurance accountant do?
Insurance accountants manage the recording and reporting of premiums, claims, reserves, reinsurance, and investment income. They also handle regulatory filings and ensure compliance with SAP and GAAP standards.
What is the difference between statutory and GAAP insurance accounting?
SAP is focused on an insurer's ability to meet its obligations, while GAAP measures profitability and financial performance over time. Most insurance companies must reconcile both sets of standards.
What is accountant insurance called?
Professional liability insurance for accountants is called Errors and Omissions (E&O) insurance. It protects accounting professionals against client claims related to mistakes or negligence in financial services.
What type of accountant is best for an insurance business?
A CPA with experience in insurance accounting is ideal—especially one familiar with SAP, GAAP, loss reserving, and regulatory reporting. Firms like Johnson Lambert and others that specialize in the insurance sector are often a strong fit.
Not sure who’s right for your insurance business? Answer a few quick questions, and we’ll introduce you to someone who fits.
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