ARTICLE · 27 FEBRUARY 1996
1995 - Another Record Year Of Growth
Following another successful year as an international insurance centre, Guernsey entered 1996 with a record total of 300 captive insurance companies and 12 offshore life companies.
Steve Butterworth says: 'With a total of 37 new registrations during 1995, 36 of them captives, we had our fourth successive record year as Europe's fastest growing captive location. During the year only five companies surrendered their certificates leaving us a net gain of 32 registrations.'
He adds: 'I am especially pleased that although the UK remains the principal source of new captive business, we are now experiencing a wider geographical spread of captive parentage.'
The Financial Services Commission has also noted that, in addition to new insurance businesses being formed, many existing captives have been expanding their insurance programmes.
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