The Guernsey
Financial Services Commission (GFSC) licensed 89 new
international insurers during 2013.
This includes 10 limited companies, 6 Protected Cell Companies
(PCCs), 63 PCC cells, 2 Incorporated Cell Companies (ICCs) and 8
ICC cells.
It means that there were 758 international insurers licensed in
the Island at the end of December 2013. This number comprises 242
limited companies, 69 PCCs, 414 PCC cells, 7 ICCs and 26 ICC
cells.
It compares to a total of 737 international insurers being
licensed by the GFSC at the end of December 2012, which means there
has been net growth of 21 entities during the year.
Fiona Le Poidevin, Chief Executive of Guernsey Finance - the
promotional agency for the Island's finance industry, said that
a significant proportion of the licences issued last year were
associated with structures related to Insurance Linked Securities
(ILS).
