International captive and reinsurance management group - SINSER Holding Limited, headquartered in Stockholm, has established a base in Guernsey by taking over Spread Insurance Management Limited from Reads Holdings Limited to create SINSER (Guernsey) Limited.

Steve Butterworth, Director of Insurance, said: "This is a welcome development confirming once again Guernsey's position as Europe's prime captive insurance centre and one of the fastest growing captive locations in the world."

The Chairman of SINSER (Guernsey) Limited is Mats Lindkvist CEO of SINSER Holding. Callum Beaton remains as Managing Director of SINSER (Guernsey) Limited supported by his existing team.

SINSER (Guernsey) Limited acquires a broad portfolio of clients built up directly and through intermediaries since 1992. Mats Lindkvist said: 'SINSER (Guernsey) Limited will not only definitely improve SINSER's presence in the UK marketplace but will also become an interesting alternative for several other countries. The Guernsey captive market is mature and well-qualified. We expect SINSER (Guernsey) Limited to stand for market presence and fruitful exchange of expertise within the SINSER group.'

Callum Beaton said: 'This development takes an established local insurance company and places it firmly in a multi-national arena creating new opportunities for clients and employees alike.'

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For further information contact Nigel Taylor, Director of Investment Business or Tammy Menteshvili, Deputy Director of Investment Business on Tel: +44 (0) 1481 712706 or visit the Guernsey Financial Services Commission Web Site at:

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