Senior management from a major Chinese insurer have been in
Guernsey to assess the viability of establishing a captive in the
Island.
The delegation from the Beijing headquartered Sunshine Insurance
Group, which is one of seven insurance groups in China, included
Chairman Weigong Zhang. Also present were representatives of its
London-based broker Newman Martin & Buchan, including
non-executive director Ralph Snedden.
Mr Snedden is also already a non-executive director of a
Protected Cell Company (PCC) managed by the Guernsey-based
independent captive manager Alternative Risk Management (ARM). He
introduced the Sunshine executives to the ARM management team, who
in turn also facilitated meetings with representatives from the
Island's regulator, the Guernsey Financial Services Commission
(GFSC) and Guernsey Finance – the promotional agency for
the Island's finance industry.
