Guernsey: Guernsey Insurance Consultant Receives Prestigious Award
Last Updated: 9 June 2008
Guernsey-based insurance consultant Callum Beaton has received a prestigious award from the Chartered Insurance Institute (CII)

Guernsey-based insurance consultant Callum Beaton has received a prestigious award from the Chartered Insurance Institute (CII).

The founder of Callum Beaton (Insurance Consulting) Limited has been awarded the Rutter Medal, 2008. Mr Beaton was presented with the award by the President of the CII, Lord Hunt of Wirral, at a recent ceremony in London’s Guildhall.

The Rutter Medal is presented annually to the best qualifying new Fellow of the CII and Mr Beaton’s receipt of this year’s award recognises the excellence of his dissertation on captive insurance which was the central part of his submission to become a Fellow.

"I was extremely pleased simply to have been admitted to the Fellowship of the CII, which is regarded as the premier qualification for those working in the insurance industry so to be recognised also as the best qualifying new Fellow is therefore a huge honour," said Mr Beaton.

Mr Beaton’s dissertation is entitled ‘Has captive insurance truly earned its place in risk financing?’

The paper explains how the concept of captive insurance has during its life-span of the last 50 years, developed from a position where some of the earliest captives were little more than offshore bank accounts to the situation today where it is a sophisticated and structured tool incorporating risk management and risk transfer and with an estimated global annual premium income in excess of $40bn placed with some 5,000 companies.

The dissertation’s main conclusion is that the application of balanced regulation, applied to captive and cell captive insurers, has been and will continue to be central to the continuing development of offshore insurance techniques.

The dissertation will now be shortly published as a specialist supplement to the Institute’s Journal.

"This is a tremendous achievement," said Peter Niven, Chief Executive of GuernseyFinance – the promotional agency for the Island’s finance industry.

"Callum being awarded this accolade by such a respected body as the CII is recognition of both his hard work and knowledge. It also highlights the breadth and depth of insurance expertise that there is in Guernsey whether that be directly in captive and cell management or providing associated products and services."

Mr Beaton has held senior positions in Guernsey’s insurance management sector for over fifteen years of his career spanning thirty years. The consultancy that he established in 2005 provides clients with advice on all aspects of captive and cell captive insurance with particular focus on structure and domicile review.

Mr Beaton has written a number of articles addressing captive insurance issues and has lectured on the subject across the world. In November he will be addressing a session of the World Captive Forum in Palm Springs, California having previously addressed the conference in 2006.

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