The number of insurance licenses issued in Guernsey last year
rose more than 50% compared to the previous 12 months.
Figures show that the Guernsey Financial Services Commission
(GFSC) licensed 72 international insurers during 2011, which is
a 53% increase from the 47 approved during 2010.
This has helped push the net number of international insurance
entities licensed in Guernsey up by 12, from 675 at the end of 2010
to 687 at the close of 2011.
Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance
– the promotional agency for the Island's finance
industry, said: "The latest figures show that there have been
far more licenses issued during 2011 than the immediately preceding
years and this is across the range of entities from conventional
captive insurance companies, PCCs [Protected Cell Companies], ICCs
[Incorporated Cell Companies] and in particular, PCC and ICC
cells.
