Fiona Le Poidevin, Chief Executive of Guernsey Finance,
discusses the Island's strong standing in the captive insurance
market and what it is doing for its captive
companies.
Guernsey's strong standing in the captive insurance market
is well known.
The island is the number one captive insurance domicile in
Europe and the fourth largest globally, but in an increasingly
competitive marketplace, it is vital that Guernsey does not rest on
its laurels and remains at the forefront of developments for
effective risk management within companies. It was with this in
mind that Guernsey decided not to seek equivalence with Solvency
II. Instead, it was decided that we would retain our commitment to
meeting the standards of the International Association of Insurance
Supervisors (IAIS). In doing so, we provided local industry, as
well as current and potential clients, with certainty and clarity
regarding the regulation of insurance business in Guernsey.
