Guernsey Continues To Captivate

Off the back of a successful 2012, Fiona Le Poidevin of Guernsey Finance re-examines the healthy state of Guernsey's captive industry.

Last year was a great success for Guernsey as a captive insurance domicile with the jurisdiction remaining at the forefront of innovation in the sector – somewhere it aims to stay in 2013.

Latest figures from the Guernsey Financial Services Commission (GFSC) show that there were 737 licensed international insurers in Guernsey at the end of December 2012. During the previous 12 months, there had been net growth of 50 international insurers, with 97 additions and 47 surrenders. The fall in the number of limited companies was more than offset by the growth of protected cell companies (PCCs), incorporated cell companies (ICCs) and in particular, associated cells.