The Commission's general duty to protect and enhance Guernsey's reputation as an international finance centre is undertaken - in respect of regulating insurance business by an experienced and enthusiastic team (pictured) at the Insurance Division.
Among other responsibilities, the key members of this team decide whether or not an application to establish a new insurance business in the Island is acceptable. In exercising this function great weight is given to the status of intended shareholders, directors, officers and insurance managers and the latter must be able to demonstrate a favourable track record.
Steve Butterworth, Director of Insurance, says: 'Our ability to select who can and who cannot set up insurance businesses in Guernsey is crucial to the Island's success as an international insurance centre.'
The content of this article is intended to provide a general guide to the subject matter. Specialist advise should be sought about your specific circumstances.
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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