Guernsey licensed seven new captives in 2020 and expects to see
a significant rise in 2021 following adoption of a new fast-track
pre-authorisation licensing scheme at the end of last year.
Europe's largest captive insurance jurisdiction added three
new captives, four new captive cells, and two special purpose
vehicles in 2020, a year where interest in captive formations was
so strong at one point the number of inquires was a challenge for
the industry to handle.
2021 has already seen a new captive company, protected cell
company and individual cell formations
"New business has started to flow, which is excellent news,
and I expect that we will see 2021 and 2022 proving to be good
years for new formations and licensees," said Mike Johns,
Chairman of the Guernsey International Insurance Association
(GIIA).
