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The first Japanese owned reinsurance company to set up business in the Isle of Man has just received its licence to operate from the Insurance and Pensions Authority.

Isle of Man based Hirco Plc, the investment vehicle for Hiranandani, is a fine example of an Indian family firm with a long and distinguished history that has flourished in the face of global competition in the international marketplace.

Few money managers would be willing to describe today's global equity markets as cheap or offering great long-term value (they certainly offer less than 18 months ago).

International credit ratings agency Moody’s maintained a stable ‘Aa3’ credit rating for the Isle of Man, the same rating as the UK, supported by its high wealth levels, strong institutions, prudent fiscal policies, very low direct debt and substantial reserves.