Brown Plus Shines Among the Best Audit Firms in the U.S.
Leading accounting and advisory firm, Brown Plus, has made a significant mark in the insurance industry by being recognized as one of the premier audit firms for property and casualty (P&C) insurers. This accolade, published in AM Best's 2024 list of Top Audit and Actuarial Firms, highlights the firm’s unwavering commitment to excellence. For the fourth consecutive year, Brown Plus has secured its place among the largest audit firms dedicated to serving the needs of P&C insurance clients across the nation.
Impressive Rankings and Achievements
In the 2024 ranking, Brown Plus achieved the remarkable status of being the 23rd largest audit firm in the United States based on the loss reserves of its P&C insurance clients. This consistent ranking has been upheld since 2021, demonstrating the firm's expertise and reliance within the industry. Moreover, Brown Plus is now positioned as the 9th largest audit firm in the U.S., reflecting its firm focus on expanding its array of P&C clients. This marks a notable milestone, as it is the first time the firm has entered the top 10 audit firms for total P&C clients served.
Words from Leadership
Ken Wolfe, CPA, CGMA, and President of Brown Plus, expressed gratitude for the recognition, stating, "We are honored to receive this esteemed acknowledgment from AM Best. It reinforces our position as a leading service provider to P&C insurance companies throughout the nation. Our dedicated team, which specializes in insurance audits, prides itself on delivering customized solutions that cater to the unique needs of our clients. This honor mirrors the trust and longstanding relationships we’ve cultivated in this vital sector."
The Significance of AM Best's Ranking
AM Best's Top Audit and Actuarial Firms list is a prestigious compilation that features independent accountants audit financial statements and actuaries that provide statutory opinions pertaining to P&C insurers regarding policy and claim reserves. The top 25 firms are ranked based on the total loss reserves they handle, reinforcing the necessity for firms to understand statutory-based financial accounting. They must also remain updated on regulatory developments, especially from significant organizations such as the National Association of Insurance Commissioners, to ensure compliance with evolving standards.
Brown Plus' Comprehensive Services
The Brown Plus Insurance Practice is composed of a team of seasoned professionals equipped to provide a comprehensive portfolio of attest, tax, and advisory services for a variety of insurance entities across the United States. The diverse clientele ranges substantially from smaller firms with $1 million in direct premiums written to larger companies exceeding $300 million. In 2024, Brown Plus proudly served a total of 31 P&C insurance firms and also extends its expertise to captives, risk retention groups, self-insurance organizations, as well as both health and life insurance entities that were not counted in the AM Best standings. Overall, the firm serves over 100 insurance clients across P&C, life, and health insurance sectors, indicating its extensive influence in the market.
Exploring Brown Plus Further
To discover more about the myriad services offered by Brown Plus, individuals are encouraged to explore their website. They provide a wealth of information regarding their specialized practices, including a dedicated section for insurance and their commitment to excellence in service.
Frequently Asked Questions
What is the significance of Brown Plus ranking in AM Best's list?
The ranking signifies Brown Plus' status as a leader in providing audit services for property and casualty insurers, showcasing its industry expertise.
How has Brown Plus maintained its ranking over the years?
Through a commitment to quality and tailored services, Brown Plus has consistently met the needs of its insurance clients while expanding its reach within the sector.
What kind of services does Brown Plus offer?
Brown Plus offers a full range of attest, tax, and advisory services tailored for insurance clients, enhancing their operational efficiency and compliance.
Who leads the Brown Plus Insurance Practice?
The practice is led by Ken Wolfe, CPA, CGMA, who emphasizes the importance of tailored solutions and strong client relationships in the insurance arena.
What type of clients does Brown Plus serve?
Brown Plus serves a diverse range of clients in the insurance sector, including property and casualty insurers, health insurance firms, and self-insurance groups.
