Insurance accounting services for agencies and MGAs

Who this is for

Independent agency owners and their controllers, MGA and program administrator finance leads, insurtech CFOs, and the finance staff of captives and small insurers. These businesses share one problem: they hold money that isn't theirs, and a regulator, a carrier or an auditor will eventually ask them to show where it is. Our monthly close is built around answering that question.

What we prepare, by type of business

• Independent agencies. A monthly three-way reconciliation of the premium trust account (bank, ledger and the trust report in Applied Epic, AMS360, HawkSoft or Sagitta), carrier commission statements tied to revenue, and producer splits and chargebacks. Start with premium trust and agency accounting.
• MGAs and program administrators. Bordereaux tied to premium collected and remitted, fiduciary account reconciliations and the quarterly account report your carrier expects. Start with MGA and program administrator accounting.
• Captives, risk retention groups and small insurers. Books kept on the basis the domicile requires, GAAP or statutory, with the schedules handed to the independent auditor and the actuary, and statutory and GAAP trial balances from one close. Each has its own page, listed below.

Where do the rules come from?

There is no single rulebook. Agencies answer to their state: Florida Statute 626.561 treats premiums as trust funds and requires 3 years of records, and New York Insurance Law 2120 bars mingling without the principal's consent. MGAs answer to their state's MGA law and their carrier contract: NAIC Model #225 has the contract require the MGA to remit at least monthly, and Texas Insurance Code 4053.103 requires a quarterly account report. Insurers answer to their state's version of the Model Audit Rule for the audited report. We read each source on 2026-10-19 and show it on the deeper pages; your compliance contact or counsel decides what applies to you.

Who signs what

Workpapers organized for your independent auditor. Your officers sign the statutory statements and your appointed actuary signs the actuarial opinion. Under NAIC Model #205 an insurer has an annual audit by an independent CPA, and the model sets June 1 for the audited report. Reconciliation support for your premium trust account, for your review and sign-off. Finbryn never holds, controls or signs on trust funds. If Finbryn keeps your books, we refer your audit to an independent CPA practice that is independent of Finbryn.

Where actuarial work fits

Reserves and rates are actuarial work, IFRS 17 measurement rests on actuarial models, and a credentialed actuary signs any opinion. We prepare the data checks and workpapers behind it: loss reserve studies, IFRS 17 implementation and reporting support and insurance rate making and pricing support.

Getting started

Send the list of accounts, carriers and systems, and we scope the monthly close around them. Fees are on the pricing page and the steps are in how it works.