Our Unique Offering

At Littlewoods Services, we’ve designed our offerings to meet both our clients’ short-term needs and long-term goals, no matter the size or complexity of their operations. Our comprehensive suite of services spans nine key areas:

Consulting & Advisory

Regulatory

Risk

Compliance

Financial Management

Technical Acccounting

Tax Administration

Investment Administration

Corporate Support Services

CONSULTING & ADVISORY

Advisory You Can
Rely On

At Littlewoods, we are a specialist professional services firm with deep expertise in the insurance and reinsurance sectors. With decades of experience, we support clients in navigating the evolving prudential and regulatory landscape with clarity and confidence.

Read More

REGULATORY


Regulatory Expertise Backed by Strong Industry Relationships

Our extensive experience in engaging with regulators enables us to effectively support clients through licensing, compliance with new requirements, and ongoing regulatory obligations. We work closely with clients to align their business objectives with regulatory expectations, delivering practical compliance solutions that minimise operational disruption.

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RISK
SOLUTIONS

Strategic and Actionable Risk Solutions

At Littlewoods, our experienced team brings deep insight into the evolving risk landscape. We help clients strengthen and adapt their risk frameworks to keep pace with regulatory change and operational complexity. With a practical understanding of insurance business operations, we deliver risk solutions that are both strategic and actionable.

COMPLIANCE


Navigate Regulatory Obligations with Confidence

Our compliance experts at Littlewoods offer tailored support to help clients navigate regulatory obligations with confidence. We work closely with businesses to develop and refine compliance programs that align with both regulatory expectations and commercial priorities. Our approach positions compliance as a value-adding function, closely aligned with broader risk management efforts.

FINANCIAL MANAGEMENT

Financial Management Expertise for Insurers

Littlewoods brings deep insurance finance expertise to help clients manage and optimise their financial performance. From budgeting and forecasting to statutory and regulatory reporting, we help establish financial controls that are strong, efficient, and industry-aligned. With decades of experience, we support insurers at every stage of their business lifecycle.

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TECHNICAL ACCOUNTING

Specialised Technical Accounting for the Insurance Sector

Technical accounting in insurance is complex and we know it inside out. At Littlewoods, our team brings deep, hands-on expertise to help insurers, reinsurers, MGAs, and coverholders build and manage robust accounting processes. Whether you’re scaling up or just starting out, we support your operations to meet both regulatory requirements and day-to-day business needs with clarity and confidence.

Read More

TAX
ADMINISTRATION

Specialised Tax Administration for the Insurance Sector

Taxation in insurance is complex and demands industry-specific expertise. At Littlewoods, we have a proven track record in supporting clients with the administration of both direct and indirect tax obligations, including income tax, FBT, GST, stamp duty, and ESL.

Read More

INVESTMENT ADMINISTRATION

End-to-End Investment Administration for Insurers

Littlewoods provides expert support across the full investment administration lifecycle. We work closely with custodians, investment managers, and banks aiming to achieve smooth account setup, reporting, and compliance.

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CORPORATE SUPPORT SERVICES

A Seamless Local Presence Without the Overhead

At Littlewoods, we provide the infrastructure overseas insurers need to operate confidently in Australia without the need for an immediate physical presence. From acting as your registered office and managing correspondence to handling essential administrative functions, our corporate support services offer a compliant, cost-effective solution for entities entering the market.

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Our clients can choose services individually or bundle them together in our two core fee models: Time Cost and Fixed Fee. We cover all critical regulatory roles required for operating as a General Insurer or Reinsurer in Australia.

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

Our most common engagements include:

  • Serving as Agent and Alternate Agent for branches of foreign (re)insurers in Australia
  • Assisting with the implementation and management of the APRA risk framework
  • Providing local compliance oversight
  • Preparing and lodging APRA regulatory returns
  • Delivering end-to-end financial management and technical accounting solutions

This model allows our clients to limit their Australian-based resources, significantly reducing overhead expenses and liabilities associated with maintaining offices and employees.

With Littlewoods Services, you get robust support that optimises your operations and enhances efficiency.

Contact us for more information

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.

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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.

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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.

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QUICK LINKS

Contacts

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

Services

CONSULTING & ADVISORY

Advisory You Can Rely On

At Littlewoods, we are a specialist professional services firm with deep expertise in the insurance and reinsurance sectors. With decades of experience, we support clients in navigating the evolving prudential and regulatory landscape with clarity and confidence.

Our advisory services are grounded in real-world insight and a proven track record. From traditional insurers and reinsurers to MGAs, underwriting agencies, and coverholders, we partner with clients at every stage, offering strategic, practical solutions that drive compliance, strengthen governance, and support sustainable growth.

Advisory Services

We provide expert support tailored to your needs including:

  • Advisory and consulting support for establishing a presence in the Australian insurance market
  • Guidance through the APRA licensing process
  • Support to adapt Group Risk Frameworks to meet APRA and local requirements
  • Ongoing APRA compliance advisory
  • CPS 230 Operational Risk Management support
  • Financial Accountability Regime (FAR) advisory
  • Ongoing assistance for the Branch Manager and Senior Officer Outside Australia
  • Capital change and return applications
  • Practical support to implement local reinsurance collateral requirements
  • Risk advisory and feedback for Group Risk Officers and key stakeholders

Services

REGULATORY

Regulatory Expertise Backed by Strong Industry Relationships

Littlewoods is recognised for our deep understanding of Australia’s insurance regulatory landscape. Our extensive experience in engaging with regulators enables us to effectively support clients through licensing, compliance with new requirements, and ongoing regulatory obligations. We work closely with clients to align their business objectives with regulatory expectations, delivering practical compliance solutions that minimise operational disruption.

We offer end-to-end regulatory support tailored to APRA-regulated insurance entities, including:

  • Acting as appointed or alternate Agent in Australia under the Insurance Act (as required)
  • Coordination and review of key documents within the regulatory framework, including:
    • ICAAP Summary & Report
    • Business & Capital Management Plan
    • Risk Management Strategy & Risk Appetite Statement
    • Business Continuity Plan
    • Recovery & Exit Plan
    • Reinsurance Arrangement Statement
    • Run-Off Plan (if applicable)
    • Governance policies (Fit & Proper, Remuneration, Outsourcing, Actuarial Advice, Information Security)
  • Ongoing monitoring of APRA compliance obligations and regulatory updates
  • Capital adequacy monitoring (PCA/PCR)
  • Preparation and lodgement of APRA returns (Quarterly, Annual, and ad hoc financial submissions)
  • Lodgement of National Claims and Policies Database reporting (if applicable)
  • Participation in Risk Committee meetings and APRA prudential reviews
  • Guidance on the capital impact of reinsurance recoveries
  • Support the review of the Financial Condition Reports and Actuarial Valuation Reports
  • Liaison with internal and external auditors

Services

FINANCIAL MANAGEMENT

Financial Management Expertise for Insurers
Littlewoods brings deep insurance finance expertise to help clients manage and optimise their financial performance. From budgeting and forecasting to statutory and regulatory reporting, we help establish financial controls that are strong, efficient, and industry-aligned. With decades of experience, we support insurers at every stage of their business lifecycle.

Financial Management Services

We provide end-to-end financial support tailored to the insurance sector, including:

  • Operational bank account management and expense processing
  • Claims and premium trust account reconciliation and payments
  • Payroll, BAS, and IAS payment processing
  • Cashflow monitoring and financial planning support
  • General ledger maintenance and bank reconciliations
  • Expense management and ledger entries for reporting periods
  • Preparation of trial balances for APRA and management reporting (as required)
  • Head Office and Lloyd’s reporting support
  • Half-yearly Payment Times Reporting
  • Claim float management for Third Party Administrators (if required)
  • Coordination and lodgement of Australian Reinsurance Pool Corporation returns

Services

TECHNICAL ACCOUNTING

Specialised Technical Accounting for the Insurance Sector

Technical accounting in insurance is complex and we know it inside out. At Littlewoods, our team brings deep, hands-on expertise to help insurers, reinsurers, MGAs, and coverholders build and manage robust accounting processes. Whether you’re scaling up or just starting out, we support your operations to meet both regulatory requirements and day-to-day business needs with clarity and confidence.

Technical Accounting Services

We provide end-to-end support for insurer and reinsurer technical accounting, including:

  • Processing of technical accounts for reinsurers and insurers, including policy binding and closings
  • Monitoring mailboxes and managing broker closings in relevant systems
  • Cash allocation and reconciliation within insurance systems
  • Debtor management and broker follow-ups for overdue balances

Services

TAX ADMINISTRATION

Specialised Tax Administration for the Insurance Sector

Taxation in insurance is complex and demands industry-specific expertise. At Littlewoods, we have a proven track record in supporting clients with the administration of both direct and indirect tax obligations, including income tax, FBT, GST, stamp duty, and ESL.

While we are not registered tax agents, we work closely with clients to manage the administrative preparation of income tax returns, FBT submissions, and tax returns “as agent” for non-resident (re)insurers supporting accuracy, efficiency, and compliance every step of the way.

Tax Administration Services

We support insurers with the administration of complex tax obligations, including:

  • Preparation and lodgement of BAS and IAS
  • Compiling annual income tax, FBT, and “as agent” withholding tax return data (for lodgement by registered tax agents)
  • Acting as Public Officer for ATO purposes (if required)
  • Lodgement of monthly stamp duty returns across all states
  • Management of NSW Emergency Services Levy and Tasmanian Fire Service Levy obligations
  • Liaison with appointed tax agents, including responding to queries and attending meetings

Services

INVESTMENT ADMINISTRATION

End-to-End Investment Administration for Insurers
Littlewoods provides expert support across the full investment administration lifecycle. We work closely with custodians, investment managers, and banks aiming to achieve smooth account setup, reporting, and compliance.
With deep knowledge of the regulatory landscape for insurer branches in Australia, we also assist with the co-ordination of complex KYC obligations, particularly for overseas directors, working to keep your investment operations efficient and compliant.

Investment Administration Services

We support insurers in managing local investment operations with a focus on compliance and efficiency, including:

  • Administration of Australian bank accounts in line with authorised mandates
  • Support and guidance on compliance with GPS 120 Assets in Australia within banking and investments
  • Investment account reconciliation, including balance sheet and income tracking
  • Liaison with custodians and investment managers
  • Support with investment related fund transfers

Services

CORPORATE SUPPORT SERVICES

A Seamless Local Presence Without the Overhead
At Littlewoods, we provide the infrastructure overseas insurers need to operate confidently in Australia without the need for an immediate physical presence. From acting as your registered office and managing correspondence to handling essential administrative functions, our corporate support services offer a compliant, cost-effective solution for entities entering the market. This flexibility allows you to establish operations and meet local obligations from day one, while focusing on growth.

Corporate Support Services

We help overseas insurers establish and maintain a compliant local presence in Australia through:

  • Providing a registered office and acting as the Corporations Act agent (if required)
  • Coordinating the Director Identification Number (DIN) process
  • Maintaining corporate and director records with ASIC and the Australian Business Register
  • Lodging annual financial statements
  • Providing a physical Australian mailbox for official correspondence

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