Reinsure Allure

Originally published in The Lawyer, 9 November 2009

Guernsey is a renowned leader in the captive insurance world. However, recently Guernsey has also been targeting and attracting reinsurance companies to its shores. Christopher Anderson, Partner, Bedell Cristin in Guernsey, considers the suitability of the island as a jurisdiction for the establishment of reinsurers.

Expertise

As the leading captive insurance domicile in Europe and the fourth largest captive insurance centre in the world, Guernsey already has the infrastructure and expertise necessary to service a large reinsurance operation (including an extensive number of suitably qualified non-executive directors). However, there is no established market for reinsurance business in Guernsey and, being remote from London, underwriters will not be able to have face to face meetings with brokers as easily as they would wish. No new fangled technology is ever likely to replace the importance of a face to face