Guernsey is domicile of choice for insurers

MORE than 100 international insurers have been licensed in Guernsey in the past 12 months.

Much of the growth in the PCC market has come from JLT’s management of two PCCs linked to the UK government-backed NewBuy scheme, which offers 95% mortgages on new homes.
Much of the growth in the PCC market has come from JLT’s management of two PCCs linked to the UK government-backed NewBuy scheme, which offers 95% mortgages on new homes.

MORE than 100 international insurers have been licensed in Guernsey in the past 12 months.

There are now 746 registered by the Guernsey Financial Services Commission, with 107 new insurers listed in the past year.

The new figure is an increase of 64 from the figure at the end of September 2011.

The additions include five ‘pure’ captives, seven protected cell companies, 90 PCC cells, one incorporated cell company and four ICC cells.

In the same period, 43 licences were surrendered, including 14 captives.

‘The figures show that the number of new licences being issued picked up as we moved through last year and that trend has continued during the first three quarters of 2012,’ said Fiona Le Poidevin, chief executive of Guernsey Finance.

Comments for: "Guernsey is domicile of choice for insurers"

ethel stone

International insurers? Bob the Builder , Trotter & Sons?