Insurance Risk magazine has bestowed its 2014 Insurance Risk Award for “Best Consulting Firm” on the member firms of KPMG International, a global network of professional firms providing audit, tax and advisory services.
The “Insurance Risk Awards” are in recognition of excellence in risk management within the insurance sector. The awards are created to reward “innovative thinking and ground-breaking approaches to solving the risk management challenges that face the industry,” according to Insurance Risk magazine.
“We are honored to be recognized by Insurance Risk for the work KPMG firms have done to help insurance companies to manage business, regulatory and compliance risk amid a complex business and regulatory environment,” said Ferdia Byrne, Leader of the Global Insurance Risk and Actuarial service network at KPMG. “This recognition serves as a validation of the successful efforts of KPMG professionals to help insurers to manage and optimize risk across their organizations, while at the same time enhancing financial and operational performance.”
KPMG firms offer a diverse array of insurance risk management services designed to help insurance organizations undertake transformation activities that can deliver sustainable change, enhance corporate strategy and build a strong risk culture while improving financial performance and operational effectiveness. Insurance risk management is part of KPMG’s broader Risk Consulting services aimed at helping member firm clients to transform risk and regulatory complexity into a competitive advantage by helping ensure they exercise a single view of risk to enable optimization across their organizations.
“As insurers grow their risk capabilities, they are challenged to develop an integrated approach to managing interconnected risks among which include insurance, operational, market and credit risks,” said Gary Reader, Global Head of Insurance at KPMG International. “KPMG Insurance Risk professionals help insurers to tackle this challenge by working with them to embed risk management across all levels of their enterprises.”
This recognition comes on the heels of an honor given to KPMG International by Operational Risk & Regulation, a sister publication of Insurance Risk, earlier this year. KPMG International was named “Best Overall Consultancy” by Operational Risk & Regulation, whose annual awards recognize companies that demonstrate innovative thinking and help provide useful solutions to the operational risk management challenges faced by the financial services industry.
KPMG LLP, the audit, tax and advisory firm, is the U.S. member firm affiliated with KPMG International Cooperative (“KPMG International”). KPMG firms have 155,000 professionals, including more than 8,600 partners, in 155 countries.
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 155 countries and have 174,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.