Guernsey licensed 46 international insurance companies to operate on the island in 2013's first half. These include limited insurance companies, protected cell captives and incorporated cells.
There are now 766 insurance companies on Guernsey, the world's fourth-largest captive insurance domicile. These companies wrote about $7.1 billion in gross premiums last year.
Paul Sykes, Managing Director of Aon in Guernsey and the current Chairman of the Guernsey International Insurance Association (GIIA), said that the island has seen "an uptick in insurance linked securities (ILS) cells being launched," which he identifies as the driving force behind Guernsey's recent increase in established cells.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
