Originally published in the Lat-Am Insurance Review
2011
Peter Niven, Chief Executive of Guernsey Finance, says
that the Island is well-placed to become the captive domicile of
choice for firms within the growing Latin American
economies.
The growth of the Latin American economies means that the
continent will see increasing numbers of companies with more
substantial and diverse risks to be covered. However, the limited
options available through the localised insurance markets may mean
that they seek alternatives, such as captives, from jurisdictions
further afield.
Certainly, the Latin American market already has ties with
Bermuda, the foremost jurisdiction for insurance, reinsurance and
captives. It has the distinct advantage of proximity and is
therefore attractive from a time zone perspective. Yet, if Latin
American firms are looking for a European alternative, then
Guernsey – the continent's leading captive insurance
domicile – has much to offer.
