‘Firms need to invest in education and training’

EDUCATION and training in Guernsey’s insurance sector is going to become increasingly critical for the industry to achieve continued growth, according to the retiring chairman of the local industry association.

peterchild

Peter Child has stood down from office at the Guernsey International Insurance Association and handed over to Derek Maddison. He repeated a warning about training in his final address.

‘There is no doubt that government moves to loosen housing and immigration policy to enable the employment of some outside talent is welcome,’ Mr Child said.

‘However, there can be no long-term replacement for educating our own young people.

‘Our member firms need to be far-sighted and invest in education and training, capturing talented school leavers and graduates.

‘If we commit and fully invest in people and professional skills we can create a virtuous circle that will support Guernsey becoming a global hub for all types of insurance and reinsurance.’

The association’s education committee is investigating the viability of a university-delivered captive insurance qualification for the local industry.

For more from Peter Child and about Guernsey’s insurance sector, see today’s business review supplement Q1

Comments for: "‘Firms need to invest in education and training’"

Devil's Advocate

Firms won't invest in training locals when it's cheaper to import people under license. Level the playing field by making licenses more expensive or harder to obtain and then you'll see a change.

Loveridge

Well said Devil's Advocate. The States should apply their own mantra. Ask Deputy Lowe under what rules her department is filling out and assisting with the licence, for an employee, who under the rules should now be moving to OM, but is 'promised' a licence?

Island Wide Voting

I don't know if it still happens but 20 plus years ago banks used to bring in promising staff from their UK branches for a couple of years as part of the bank's (UK headquarters) succession planning

They would return to the UK with the Guernsey experience under their belts ready for a move onwards and upwards only to be replaced by the next UK employee with similar 'promise'

It didn't work so well in reverse as the local employees had no wish to leave Sarnia Cherie even with a possible promotion on the horizon

RobB

DA,

So true and it's always been so easy for employers to convince Housing that there is just no one capable locally to fill their "special" position while paying lip service to the search locally or putting that many hurdles in place that it was impossible for anyone locally to meet them!

Also not surprising this happens when a lot of the time the decision matter on such matters is located off island.