New captives created in Guernsey more than doubled in 2019.
As the industry saw a surge of new interest in captive
structures in the latter months of 2019, Europe's leading
captives centre registered 11 new structures during the year, its
best result since 2016.
Mike Johns, Chairman of the Guernsey International Insurance
Association, and Director at Willis Towers Watson in the island,
welcomed the figures as confirmation of the Guernsey industry's
belief that demand for captives was rising.
He said that the Guernsey industry had benefited from fresh
interest in captives, due to a change in market conditions, and the
confidence gained in Guernsey's whitelisting for economic
substance from the European Union, a position which some rival
jurisdictions failed to secure.
