Originally published in the Captive Review, Guernsey Special
Report, January 2012
Fiona Le Poidevin, Deputy Chief Executive of Guernsey
Finance, describes how Guernsey remains a dominant force among
captive insurance domiciles and provides new figures to support her
argument.
The global financial crisis initially came to a head in 2008,
yet we continue to see the wave of repercussions in the eurozone
and beyond.
These developments have created an uncertainty which emphasises
the importance of effective risk management within companies.
Guernsey has been well-placed to assist companies in this regard
due to our reputation for providing an extremely competitive
offering.
Our decision not to seek equivalence with Solvency II but retain
our commitment to meeting international standards provides local
industry and also current and potential clients with certainty and
clarity regarding the regulation of insurance business in
Guernsey.
