The main objective of this paper is to examine the legal framework and regulations set up and to compare the reports of the selected society with the given postulates. The task is to analyze the financial statements of the selected insurance company using the horizontal and vertical balance sheet and profit and loss accounts. Insurance companies can not only be considered as insurance companies for their clients but also as significant investors who, as a result of their business, temporarily manage the available financial assets of their clients. Using the secondary data generated from the survey of accounting and financial audit reports, a theoretical framework of research was set up. Expert relevant literature for working needs was consulted. Guided by the definitions of the accounting framework and the financial reporting model, the selected company is evaluated and is presented by all the definitions assigned to the final task assignment. Based on the secondary data deriving from the professional literature and on the basis of the primary research, which includes the analysis of the financial statements of the balance sheet and the profit and loss account for the period from 2014 to 2016, the conclusion is a summary of the definitions and the review of the position of the company in the market.