Insurance for life: growing our global expertise

In 2019, Mazars was appointed as an external auditor for one of the largest brand names in the Irish life insurance sector, Canada Life.

“Audit rotation is now ever-present in the Public Interest Entity arena, with this opportunity stemming as a direct consequence of these requirements,” says Rob Hamill, Mazars Audit Partner.

“The assignment has so far brought out out the best in the firm: experienced, talented people working across multi-jurisdictions, with the ambition to deliver a high quality service.”

To go above and beyond expectations, Mazars made a number of strategic hires, forming an actuarial team capable of providing value and insights on the Irish and wider European markets. “Our work with Canada Life has opened doors to relationship-building outside Europe with international, complex insurers based in Canada – thereby enabling us to enhance our credentials across North America,” adds Hamill.

The expansion came with its challenges, namely capacity and different regulatory environments. However, Pat Hayes, Financial Controller, Canada Life, explains, “Any audit transition is complex in nature, but we have been delighted to work with the Mazars team. Professional, dedicated and committed to doing a robust job – they’ve integrated smoothly into our operating model.”

That positive feedback fuels Hamill and his team, “The bar was set at a high level, and we will ensure it remains in place,” he says, “ultimately, we want to deliver a high-quality audit process, to reinforce Canada Life’s decision in appointing Mazars as its external statutory and group auditor”.

The Canada Life appointment, combined with other engagements related to large insurance companies in Ireland and across Europe in 2019, has further demonstrated our firm’s expertise in the field.

This article is taken from ‘Striking the Balance: Mazars 2019 Yearbook.’

For more on how Mazars is accompanying our clients’ development and helping them navigate the complex environments in which they operate, download the full Yearbook below.