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.
Schedule ConsultationCross-industry
Other industries we serve
SMAART works across the small-business spectrum. If you straddle insurance and one of these, the same team can support both engagements.
Agriculture & Farming
Specialized accounting, tax planning, and advisory services for farms, ranches, agribusinesses, and agricultural enterpr
AI & Artificial Intelligence
Specialized financial, tax, and advisory services for AI companies, machine learning startups, and deep-tech ventures na
Ambulatory Care
Outpatient financial management, procedure-based revenue tracking, and regulatory compliance for ambulatory care facilit
Apparel & Clothing
Seasonal inventory management, product costing, and wholesale/retail financial management for fashion brands, apparel co
Asset & Wealth Management
High-net-worth client accounting, trust and estate financial management, and tax optimization for wealth management firm
Attorney Offices & Law Firms
IOLTA trust accounting, partner compensation structuring, and practice management financial services for law firms and a
Related Services
Explore Our Other Services
01 / 02
01 / 02
Related Insights
From the SMAART Blog
CFO Services
The SBA Just Doubled Its Combined Loan Limit to $10 Million: What It Means for Your Growth Plans
Effective July 4, 2026, borrowers can combine SBA 7(a) and 504 loans for up to $10 million in financing, double the old cap. Here is how the new rule works.
Read Article
Accounting
Do You Need a Bookkeeper? When It's Time to Hire One
Do I need a bookkeeper? If you're asking, the honest answer is usually not yet or overdue. Here are the signals that tell you which one you are, when a small business should hire a bookkeeper, and what a real bookkeeping engagement actually includes.
Read Article
Accounting
Bookkeeping for Small Business: The Complete Guide
Bookkeeping for small business is the layer that makes every other financial decision possible. This guide covers how to set up your books, the five monthly activities that keep them clean, what bookkeeping should cost, and when to stop doing it yourself.
Read Article