This page contains a Flash digital edition of a book.
Guernsey:


fourth largest globally. Second, further independent research reveals that captive owners who use Guernsey recognise the Island’s expertise in the sector, its good links to London and the pragmatic attitude of the Guernsey Financial Services Commission (GFSC).


C The survey results also show that Guernsey’s decision not to


seek equivalence with Solvency II has the backing of owners with captives on the Island. Indeed, the Island’s position regarding Solvency II is being credited as one factor behind the surge of new insurance licences issued during 2011. These latest figures from the GFSC, coupled with the independent evaluations, provide strong evidence that Guernsey remains an attractive domicile in the eyes of current and potential captive owners.


A leading captive insurance domicile The origins of the insurance industry in Guernsey date back to the


18th century and the Island’s first captive insurance company was


innovation’s home


Fiona Le Poidevin of Guernsey Finance, describes how captive owners continue to view Guernsey as an attractive domicile, and presents new evidence to support her claims.


urrent and potential captive owners continue to recognise the attractions of Guernsey as a domicile. How do we know this? First, independent studies show that Guernsey remains the largest captive domicile in Europe and the


incorporated in 1922. Since then, Guernsey’s insurance market has grown to the extent that the Island is recognised as Europe’s largest captive domicile and number four globally.


Guernsey plays host to subsidiaries of global names such as Aon,


JLT, Marsh and Willis, as well as independent, boutique operators such as Heritage Insurance Management and Alternative Risk Management (ARM), providing a holistic environment for insurance solutions. The Island’s insurance industry is complemented by banking, investment and fiduciary sectors and supported by a network of professional services, including legal, tax, accounting and actuarial advisers.


The strength of Guernsey’s captive insurance sector is reflected by


the fact that the Island is the domicile of approximately 40 percent of the leading 100 companies on the London Stock Exchange with captives.


Some 60 percent of the international insurers licensed in Guernsey


have their parent company located in the UK, but the Island’s insurance sector is truly international. Firms from across Europe, the US, South Africa, Australia, Asia, the Middle East and the Caribbean have established captives on the Island.


Guernsey pioneered the cell company concept when, in 1997,


54 emea captive 2012


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68