A trend for insurance companies to relocate to Guernsey from other locations - last year there were captive transfers from Bermuda, Dublin, Isle of Man and Liechtenstein - is expected to gather momentum by the end of 1997.
New legislation to be introduced this year will make it easier for non-Guernsey companies not only to migrate to the Island but also to merge or amalgamate with existing locally-registered companies.
Diane Potter, Senior Analyst in the Commission's Insurance Division, says: 'Businesses migrating to Guernsey can now avoid the procedures and costs of liquidation and of setting up a new company here. Our new legislation will remove an enormous amount of hassle and expense from the process of relocation.'
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For further information contact Peter Crook on Tel: +44 (0) 1481 712706 or visit the Guernsey Financial Services Commission Web Site at:
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