Originally published in the Captive Review, Guernsey
Report, October 2008
Christopher Anderson Of Bedell Cristin Guernsey Outlines The
Latest Regulatory And Legal Changes In Guernsey
To quote Peter Shilton: "If you stand still, there is only
one way to go, and that's backwards." Guernsey has,
clearly, been heeding Shilts' advice as the last year has seen
a huge number of legal and regulatory changes:
- the tax regime in Guernsey was overhauled on 1 January
2008;
- a new Companies Law was introduced on 1 July 2008;
- during 2008, the Guernsey Financial Services Commission (GFSC)
released a number of new regulatory requirements aimed specifically
at insurers.
This article discusses the impact of these developments on the
insurance sector.
