Enabling Insurance Entities to Operate and Thrive in Australia

Since 1956

Experience

With over 60 years of experience, we deliver unparalleled services to the MGA, Insurance and Reinsurance industry.

Expertise

Our services are designed to meet each client’s unique needs, ensuring seamless operations regardless of size and complexity.

End-to-end Solutions

We provide comprehensive, professional services, empowering global (re)insurers  to establish Australian branches and subsidiaries.

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Littlewoods is Your Trusted Partner in Navigating the Australian Insurance Market

Established in 1956, Littlewoods Services has built a strong reputation for excellence and is widely regarded as a leading provider of specialist services to local and offshore insurers, reinsurers, and MGAs. Our diverse clientele ranges from established organisations to emerging market entrants, including international entities seeking authorisation and operational readiness in Australia.

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Specialised Support for Seamless Market Entry

We specialise in partnering with local and overseas insurers, reinsurers, and MGAs that operate insurance enitities in Australia or are aiming to enter the Australian market while minimising physical presence and infrastructure costs.

Our clients typically include mid to large-sized insurers, reinsurers, and MGAs who rely on us to handle specialised regulatory, back office and financial management roles and responsibilities.

Despite serving a competitive client base, we uphold strict independence by refraining from offering services or advisory support related to marketing, sales, or underwriting.

Our Clients

Allied World
TT
TransRe
Southern Cross
Sompo
Sompo International
securities exchange
renaissance
Pacifiic International
HDI
hannover
Domestic & General
BarCover
AXA
Aspen
AM Best

Setting the Standard in End-to-End Solutions for our clients

With more than six decades of experience, our specialised team has the expertise to support your insurance entity in Australia. We have a strong track record of establishing local operations through comprehensive, end-to-end solutions. Trusted and respected for our deep understanding of APRA requirements, we deliver services with exceptional precision and expertise.

MEET THE TEAM

Partner with a Trusted Leader in Regulatory and Operational Professional Services

At Littlewoods Services, we specialise in delivering comprehensive structural, regulatory, licensing, financial, operational, and support solutions to institutions regulated by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC).

Our scalable solutions are designed to adapt to the unique needs of your business, whether you’re managing straightforward operations or navigating complex challenges.

By partnering with Littlewoods Services, you gain access to industry-leading expertise and tailored support that enables your organisation to thrive in a highly regulated environment. Let us help you achieve operational excellence with confidence and ease.

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Client Types

APRA Licence Application Preparation & Submission

The client has no existing operations in Australia and is engaging or plans to engage consultants to support and prepare their application for an Australian Prudential Regulation Authority (APRA) licence. As a result, the client intends to establish a foreign branch or subsidiary before obtaining its APRA licence. This will help meet the requirements of the authorisation process and lay the foundation for local operations in Australia.

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APRA Licensed Entity Writing Insurance or Reinsurance Business in Australia

The client aims to enhance operational capabilities in Australia with minimal physical presence, utilising specialised local expertise through an outsourced model at Littlewoods. They require a full range of services, including financial management, regulatory compliance, and core back-office functions, customised to meet both business and regulatory needs effectively and efficiently.

Read More

APRA Licensed Entity Transitioning into Run-Off

Amid acquisitions, global strategic shifts, portfolio transfers, or unforeseen circumstances, the client requires support in managing the run-off and closure of their Australian branch or subsidiary. They benefit from regulatory engagement and risk management support while Littlewoods also oversees the corporate functions, compliance, tax, investment administration, banking, financial operations, and core back-office services through to closure.

Read More

AFSL Licence Application

The client is establishing a local underwriting agency (MGA) or Coverholder business in Australia. They have secured or are in the process of securing capacity and are working with consultants to prepare their Australian Financial Services Licence (AFSL) application. As a result, the client plans to establish a local entity before obtaining its AFSL licence, helping to meet licensing requirements and ensuring operational readiness while awaiting approval.

Read More

AFSL Licensed Entity Writing Insurance Business in Australia (MGA, Underwriting Agency or
Coverholder)

The client holds an Australian Financial Services Licence (AFSL) and operates as an underwriting agency (MGA) or Coverholder, actively writing insurance business in Australia. They leverage Littlewoods to achieve operational efficiencies, making it ideal for those with a minimal physical presence. By utilising specialised local expertise, they manage their insurance business holistically, with Littlewoods tailored services covering financial management, tax, advisory, and core back-office operations to meet their specific needs.

Read More

MGA Seeking New Capacity or Insurer Seeking New MGA Opportunities

The client is either an underwriting agency (MGA) seeking additional capacity or an insurance company looking to partner with and provide capacity to MGAs. Littlewoods Placements leverages extensive industry expertise to connect MGAs with long-term capacity partners, helping insurers identify opportunities and drive growth for both sides.

Read More

Find out how we can support your goals in the Australian insurance and reinsurance market.

Contact us to start the conversation today.

QUICK LINKS

Contacts

  • 02 9274 3000
  • hello@lwds.com.au
  • Australia Square, Level 21 264 George Street, Sydney, Australia

APRA Licence Application Preparation & Submission

Client Profile

Services

The client has no existing operations in Australia and is engaging or plans to engage consultants to support and prepare their application for an Australian Prudential Regulation Authority (APRA) licence. As a result, the client intends to establish a foreign branch or subsidiary before obtaining its APRA licence. This will help meet the requirements of the authorisation process and lay the foundation for local operations in Australia.

Corporate

  • Establish a company / register a foreign company with the Australian Securities Investment Commission (ASIC)
  • Coordinate the Director Identification Number (DIN) process with relevant stakeholders
  • Establish ASIC & MyGovID portal registration and access
  • Provide a registered office in Australia and Agent for Corporations Act purposes (if required)
  • Maintain Corporate & Director information with ASIC and ABR
  • Obtain a Tax File Number (TFN)
  • Obtain an Australian Business Number (ABN) and register for Goods and Services Tax (GST)
  • Register entity for all relevant state taxes/duties and charges
  • Support entity to establish a general ledger and associated financial processes in line with Australian requirements
  • Support entity to establish a payroll system and associated payroll processes
  • Establish basic financial reporting template(s) for initial reporting by the entity
  • Physical mailbox for all traditional correspondence

Finance

  • Maintain general ledger including weekly bank reconciliations
  • Manage operational payments
  • Manage payroll payments
  • Manage business activity statement (BAS) return process/payments
  • Support entity to monitor cashflow
  • Prepare Head Office reporting

Regulatory Compliance

  • Provide appointed Agent in Australia for APRA purposes following the Insurance Act
  • Act as an alternate Agent in Australia following the Insurance Act
  • Coordinate the establishment of entity local bank accounts including the relevant banks’ Know Your Customer (KYC) Process
  • Support the entity to establish appropriate banking processes, including the required authorities.to meet General Insurance Prudential Standard (GPS) 120 Assets in Australia requirements
  • Assist/coordinate the establishment of any local custodian arrangements, including the required controls to meet GPS 120. Coordinate
  • Assist/coordinate the establishment of local investment management agreements, including the required controls to meet GPS 120
  • Liaise with internal and external auditors

Tax

  • Provide Public Officer for Australian Tax Office (ATO)/income tax purposes (if required)
  • Prepare and lodge periodic BAS
  • Prepare annual income tax return data for lodgement by appointed/registered tax agent
  • Prepare fringe benefits tax (FBT) return data for lodgement by appointed/registered tax agent

Regulatory Engagement

  • APRA-related support / advisory

Payroll

  • Payroll administration including co-ordinating the payroll payment

APRA Licensed Entity Writing Insurance or Reinsurance Business in Australia

Client Profile

The client aims to enhance operational capabilities in Australia with minimal physical presence, utilising specialised local expertise through an outsourced model at Littlewoods. They require a full range of services, including financial management, regulatory compliance, and core back-office functions, customised to meet both business and regulatory needs effectively and efficiently.

Services

Corporate

  • Provide a registered office in Australia and Agent for Corporations Act purposes (if required)
  • Coordinate the ongoing Director Identification Number (DIN) process with relevant stakeholders
  • Maintain Corporate & Director information with ASIC and ABR
  • Lodgement of Annual Financial Statements of the entity
  • Physical mailbox for all traditional correspondence

Finance

  • Manage operational payments
  • Manage payroll payments (STP)
  • Manage Business Activity Statement (BAS) payments
  • Support entity to monitor cashflow
  • Prepare Head Office reporting

Regulatory Compliance

  • Act as appointed Agent in Australia for APRA purposes following the Insurance Act (if required)
  • Act as an alternate Agent in Australia following the Insurance Act (if required)
  • Prepare and Lodge Quarterly and Annual APRA reporting based on entity ledger and other necessary data
  • Preparation and Lodgement of other financial returns to APRA or other government agencies
  • Half-Yearly review and lodgement of National Claims and Policies Database (NCPD) reporting
  • Monitor compliance with minimum capital requirements
  • Review the Internal Capital Adequacy Assessment Process (ICAAP)
  • Monitor APRA Compliance obligations of the entity
  • Provide feedback and input into the review process of the Financial Condition Report and Actuarial Valuation Report prepared by the Appointed Actuary
  • Coordinate, assist, review, and provide feedback to relevant stakeholders:

          o ICAAP Summary Statement

          o ICAAP Report

          o Business Plan

          o Capital Management Plan

          o Business Continuity Plan (BCP)

          o Outsourcing/Service Provider Management Policy

          o Fit & Proper Assessments

          o Remuneration Policy

          o Actuarial Advice Framework

          o Information Security Policy (Regulatory only)

          o Recovery & Exit Plan

          o Risk Management Strategy

          o Reinsurance Arrangement Statement

         o Risk Appetite Statement

  • Monitor and advise on APRA regulatory changes and provide additional advisory services if required
  • Liaise with internal and external auditors
  • Attendance at Risk Management (or equivalent) Committee meetings
  • Attend APRA prudential review and consultations
  • Support the entity in monitoring the capital impact of reinsurance recoveries (in relation to specific APRA requirements in this area)

Tax

  • Provide a Public Officer for ATO/income tax purposes (if required)
  • Prepare and lodge periodic Business Activity Statement (BAS)
  • Prepare annual income tax return data for lodgement by appointed/registered tax agent
  • Prepare/Coordinate annual Master file
  • Prepare fringe benefits tax (FBT) return data for lodgement by appointed/registered tax agent
  • Prepare and lodge monthly stamp duty returns for all states
  • Attend to the obligations of the NSW Emergency Service Levy and Tasmanian Fire Service Levy, including monthly/quarterly/annual returns and payments
  • Attend to appointed tax agent queries and meetings
  • Review stamp duty/GST

Investment and Banking Administration

  • Administer and manage the entity’s Australian bank accounts in accordance with banking authorities
  • Administration / authorisation of payments from entity bank accounts that form Assets in Australia as required by General Insurance Prudential Standard (GPS) 120
  • Support the entity to maintain / administer entity investments as required by GPS 120
  • Reconciliation of the entity’s investment balance sheet and investment income
  • Maintain relationship and communication with the entity’s custodian and investment manager
  • Support the entity with transfers of funds into / out of investments

Regulatory Engagement

  • Prudential Standard CPS 230 Operational Risk Management
  • Financial Accountability Regime (FAR)
  • Ongoing support for the Branch Manager and the Senior Officer Outside Australia (SOOA)
  • Applications for changes in/return of capital
  • Support the entity with respect to any local collateral requirements for reinsurance recoveries

Risk Engagement

  • Support / feedback regarding adapting the Group Risk Framework to meet local entity / APRA requirements
  • Provide feedback and guidance to the Group Risk Officer or other relevant stakeholders with respect to local entity risk requirements

Core Add-On Services

Finance

  • General expense processing in general ledger/sub-ledger/expense management system
  • Ongoing bank reconciliations and cash flow monitoring
  • Manage other general ledger entries and reconciliations for month/quarter/year-end
  • Prepare trial balances for APRA Reporting (if required)
  • Half-yearly Payment Times Reporting
  • TPA claim float management (if required)
  • Prepare and coordinate Australian Reinsurance Pool Corporation (ARPC) return and lodgements

Account Operations

  • Reinsurer Entity Technical Accounts Processing – monitoring relevant mailbox/receiving closing from broker and processing in entity’s reinsurance system
  • Insurer Entity Technical Accounts Processing including:

         o Monitoring relevant mailbox/receiving of closing from broker and binding of insurance policy in entity’s insurance system

         o Follow up with brokers for cash

         o Processing and allocation of cash in the entity’s insurance system

  •  

Payroll

  • Payroll administration including co-ordinating the payroll payment

APRA Licensed Entity Transitioning into Run-Off

Client Profile

Amid acquisitions, global strategic shifts, portfolio transfers, or unforeseen circumstances, the client requires support in managing the run-off and closure of their Australian branch or subsidiary. They benefit from regulatory engagement and risk management support while Littlewoods also oversees the corporate functions, compliance, tax, investment administration, banking, financial operations, and core back-office services through to closure.

Services

Corporate

  • Provide a registered office in Australia and Agent in Australia for Corporations Act purposes (if required)
  • Physical mailbox for all traditional correspondence
  • Coordinate the ongoing Director Identification Number (DIN) process with relevant stakeholders
  • Maintain Corporate & Director information with ASIC and ABR
  • Lodgement of Annual Financial Statements of the entity

Finance

  • Manage operational payments
  • Manage payroll payments (STP)
  • Manage Business Activity Statement (BAS) payments
  • Support entity to monitor cashflow
  • Prepare Head Office reporting
  • General expense processing in general ledger/sub-ledger/expense management system
  • Ongoing bank reconciliations and cash flow monitoring
  • Manage other general ledger entries and reconciliations for month/quarter/year-end
  • Prepare trial balances for APRA Reporting (if required)
  • Half-yearly Payment Times Reporting
  • TPA claim float management (if required)

Regulatory Compliance (APRA)

  • Littlewoods: Appointed Agent in Australia in accordance with Insurance Act 1973 (if required)

  • Littlewoods: Alternate Agent in Australia in accordance with the Insurance Act 1973 (if required)

  • Preparation and Lodgement of Quarterly and Annual APRA reporting based on entity ledger

  • Preparation and Lodgement of other financial returns to APRA or other government agencies

  • Half-yearly review and lodgement of National Claims and Policies Database (NCPD) reporting (if applicable)

  • Monitor compliance with minimum capital requirements

  • Review the Internal Capital Adequacy Assessment Process (ICAAP)

  • Monitor APRA Compliance obligations of the entity

  • Provide feedback and input into the review process of the Financial Condition Report and Actuarial Valuation Report prepared by the Appointed Actuary

  • Coordinate, assist, review and provide feedback to relevant stakeholders:

    o Run-Off Plan (if applicable)

    o ICAAP Summary Statement (if no Run-Off Plan)

    o ICAAP Report (if no Run-Off Plan)

    o Business Plan (if no Run-Off Plan)

    o Capital Management Plan (if no Run-Off Plan)

    o Business Continuity Process (BCP)

    o Outsourcing Policy

    o Fit & Proper Assessments

    o Remuneration Policy

    o Actuarial Advice Framework

    o Information Security Policy (Regulatory only)

    o Recovery & Exit Plan

    o Risk Management Strategy

    o Reinsurance Arrangement Statement

    o Risk Appetite Statement

  • Monitor and advise on APRA regulatory changes and provide additional advisory if required

  • Liaise with internal and external auditors

  • Attendance at Risk Management Committee meetings

  • Attend APRA prudential review and consultations

  • Support the entity in monitoring the capital impact of reinsurance recoveries

Tax

  • Provide a Public Officer for income tax purposes (if required)
  • Prepare and lodge periodic Business Activity Statement (BAS)
  • Prepare annual income tax return data for lodgement by appointed/registered tax agent
  • Prepare fringe benefits tax (FBT) return data for lodgement by appointed/registered tax agent
  • Prepare and lodge monthly stamp duty returns for all states
  • Attend to the obligations of the NSW Emergency Service Levy and Tasmanian Fire Service Levy, including monthly/quarterly/annual returns and payments
  • Attend to appointed tax agent queries and meetings

Investment and Banking Administration

  • Administer and manage the entity’s Australian bank accounts in accordance with banking authorisations
  • Administration/authorisation of payments from entity bank accounts that form Assets in Australia as required by GPS 120
  • Support the entity to maintain / administer entity investments as required by GPS 120
  • Reconciliation of the entity’s investment balance sheet and investment income
  • Maintain relationship and communication with the entity’s custodian and investment manager
  • Support the entity with transfers of funds into / out of investments

Regulatory Engagement

  • Prudential Standard CPS 230 Operational Risk Management Advisory & Support
  • Financial Accountability Regime (FAR) Advisory & Support
  • Ongoing support for the Branch Manager and the Senior Officer Outside Australia (SOOA).
  • Provide feedback and guidance to the Group Risk Officer or other relevant stakeholders with respect to local entity risk requirements
  • Support the entity with respect to any local collateral requirements for reinsurance recoveries

Risk Engagement

  • Support/feedback regarding adapting the Group Risk Framework to meet local entity/APRA requirements

Account Operations

  • Reinsurer Entity Technical Accounts Processing – monitoring relevant mailbox / receiving closing from broker and processing in entity’s reinsurance system
  • Insurer Entity Technical Accounts Processing including:
    • Monitoring relevant mailbox / receiving of closing from broker and binding of insurance policy in entity’s insurance system
    • Follow up with brokers for cash
    • Processing and allocation of cash in the entity’s insurance system

Payroll

  • Payroll administration including co-ordinating the payroll payment

AFSL License application

Client Profile

The client is establishing a local underwriting agency (MGA) or Coverholder business in Australia. They have secured or are in the process of securing capacity and are working with consultants to prepare their Australian Financial Services Licence (AFSL) application. As a result, the client plans to establish a local entity before obtaining its AFSL licence, helping to meet licensing requirements and ensuring operational readiness while awaiting approval.

Services

Corporate

  • Establish & register the company with ASIC
  • Coordinate the Director Identification Number (DIN) Process with relevant stakeholders
  • Establish ASIC & MyGovID portal registration and access
  • Provide a registered office in Australia for Corporation Act Purposes (if required)
  • Maintain Corporate & Director information with ASIC and ABR
  • Support entity to establish a payroll system and associated payroll processes
  • Establish basic financial reporting template(s) for initial reporting by the entity
  • Coordinate the establishment of entity local bank accounts including the relevant banks’ KYC Process
  • Support entity to establish appropriate banking processes, including the required authorities

Finance

  • Support entity to establish a general ledger and associated financial processes
  • Maintain general ledger including weekly bank reconciliations
  • Manage all operational payments
  • Manage all payroll payments (STP)
  • Manage Business Activity Statement (BAS) payments
  • Support entity to monitor cashflow
  • Prepare Head Office reporting

Tax

  • Obtain a Tax File Number (TFN)
  • Obtain an Australian Business Number (ABN) and register for GST
  • Register entity for all relevant state taxes/duties and charges
  • Prepare and lodge periodic BAS
  • Prepare annual income tax return data for lodgement by appointed/registered tax agent
  • Prepare fringe benefits tax (FBT) return data for lodgement by appointed/registered tax agent

AFSL Support

  • Engagement with appointed consultants / lawyers preparing AFSL submission

AFSL Licensed Entity Writing Insurance Business in Australia

(Managing General Agency (MGA), or Coverholder)

Client Profile

The client holds an Australian Financial Services Licence (AFSL) and operates as an underwriting agency (MGA) or Coverholder, actively writing insurance business in Australia. They leverage Littlewoods to achieve operational efficiencies, making it ideal for those with a minimal physical presence. By utilising specialised local expertise, they manage their insurance business holistically, with Littlewoods tailored services covering financial management, tax, advisory, and core back-office operations to meet their specific needs.

Services

Finance

  • Maintain general ledger including weekly bank reconciliations
  • Manage operational payments
  • Manage claim payments
  • Manage payroll payments (STP)
  • Manage Business Activity Statement (BAS) payments
  • Support entity to monitor cashflow
  • Prepare Head Office reporting
  • General expense processing in general ledger/sub-ledger/expense management system
  • Ongoing bank reconciliations and cash flow monitoring
  • Manage other general ledger entries and reconciliations for month/quarter/year-end
  • Prepare trial balances for management reporting (if required)
  • Half-yearly Payment Times Reporting (if required)
  • TPA claim float management (if required)

Tax

  • Prepare and lodge periodic Business Activity Statement (BAS)
  • Prepare annual income tax return data for lodgement by appointed/registered tax agent
  • Prepare fringe benefits tax (FBT) return data for lodgement by appointed/registered tax agent
  • Prepare and lodge monthly stamp duty returns for all states
  • Attend to the obligations of the NSW Emergency Service Levy and Tasmanian Fire Service Levy, including monthly/quarterly/annual returns and payments
  • Attend to the appointed tax agent queries and meetings

Account Operations

  • Technical Accounts Processing including:
    • Monitoring relevant mailbox / receiving of closing from broker and binding of insurance policy in entity’s insurance system
    • Follow up with brokers for cash
    • Processing and allocation of cash in the entity’s insurance system

Advisory

  • Provide general high-level advisory on an ad hoc basis as required regarding local requirements
  • Provide CFO input and guidance on operations and finances

Payroll

  • Payroll administration including co-ordinating the payroll payment

Client Profile

MGA SEEKING NEW CPACITY OR INSURER SEEKING NEW MGA OPPORTUNITIES

The client is either an underwriting agency (MGA) seeking additional capacity or an insurance company looking to partner with and provide capacity to MGAs. Littlewoods Placements leverages extensive industry expertise to connect MGAs with long-term capacity partners, helping insurers identify opportunities and drive growth for both sides.

Services

For Insurance Companies

  • Assist with sourcing MGA business aligned with risk appetite and business growth plans.

For Underwriting Agencies (MGA’S)

  • Assist with sourcing new or additional capacity for new or existing MGA