Guernsey's leading position in the Insurance Linked Securities (ILS) arena has been reinforced at this year's Trading Risk Awards.

It comes after two of the jurisdiction's reinsurance companies, Kelvin Re and Secquaero ICC, were named winners in their respective categories at the London awards. Held annually, the Trading Risk Awards recognise the very best in the reinsurance convergence market.

Kelvin Re won the initiative of the year award, while Secquaero ICC won the investor of the year category for Schroders Secquaero.

Both companies use the services of Aon Insurance Managers in Guernsey.

Aon Managing Director Paul Sykes said: "We are delighted for both Schroder's Secquaero and Kelvin Re. The awards are deserved recognition for their innovation, professionalism and commitment to the global insurance industry and reflect well on Guernsey as their preferred jurisdiction. We wish them continued success in the future."

The winner of the initiative of the year award had to be a corporation or a team whose specific innovation had made an outstanding contribution to improving the way that reinsurance risk was transferred in the past year. Kelvin Re received the award with the judges commending the structure as a 'game changer' in terms of allowing ILS fund managers to deploy capital across all forms of reinsurance product.

In the investor of the year category, judges were looking for candidates that had made an outstanding contribution to the development of the ILS investor community in the previous year. The judges felt that 2014 had been transformational for Secquaero and that the company had now been fully integrated into the Schroders network with its core ILS funds hitting their targets throughout 2014.

Guernsey Finance Chief Executive Dominic Wheatley said: "We are very proud of our international insurance expertise and the success enjoyed at the Trading Risk Awards only goes to reinforce the fact that as an island we have a particularly strong reputation for client service and innovation. Guernsey is a developing hub for reinsurance companies and an attractive destination for entering into global insurance and reinsurance markets."

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