Our proven experience
At Mazars, we combine international business and industry knowledge with unique insights into existing and emerging trends to offer our clients in the Insurance industry preeminent services including, audit, financial advisory services, consulting, tax and regulatory and compliance advice.
Statutory auditor of AXA
AXA is one of the world leading insurance and asset management groups, serving 102 million clients, individuals and business, in 57 countries. Over the past 20 years, Mazars has worked closely with the AXA Group in France, supporting them during a period of substantial change. We have built a network of established and trusted relationships with the Group’s senior management team while delivering a global audit that has added true value to the company. The scope of our work continues to expand. Mazars has worked with AXA in Mexico for the last 7 years.
Corporate Governance: compliance with solvency regime for a global Credit Insurance company
As the new solvency regime came into force, our client needed to formalize its management, thorugh the establishment of a Corporate Governance system.
Our teams established the guidelines for the governance bodies, as well as the tasks and responsabilities of each of its responsible members. Additionaly, we made an inventory of the governance, business and support processes, which provided the bases for us to implement the risk and internal control management systems. Lastly, Mazars helped on the creation of the internal audit practice.
Not only did out client complied with the regulatory dispositions, it also gained meaningful recommendations that enabled the optimization of human and economic resources.
Assurance assignment with a company incorporated on the banking-insurance regime
Our client is one of the main insurance companies in Mexico, and one of the most important Financial Groups in the world.
The assignment consisted in reviewing 3 years of income collection operations, over which UDIS (long term federal government bonds denominated in investment units) commissions are being generated. This has the objective of assuring the bank that the insurance company is compliant with its contractual obligations.
The total income was integrated through the commercial channel of the bank, for the 3 exercises that the project covered. The cash flows were verified against the bank account statements and the estimate commission of the UDIS were validated against the active contracts.