The growth experienced by Aon also coincides with recently
released statistics which show that 15 new international insurers
have been created in Guernsey during the first quarter of 2013,
including Protected Cell Companies (PCCs) and protected and
incorporated cells. Within this growth are insurance company owners
that have chosen to relocate their companies to Guernsey from
Bermuda. Guernsey now has 752 licensed insurance entities.
Paul Sykes, Managing Director of Aon Insurance Managers
(Guernsey), commented: "We have seen significant growth in
cell activity within our White Rock Guernsey protected cell and
incorporated cell companies. Much of that growth comes from
increasing demand for structuring collateralised reinsurance and
insurance linked security solutions to our clients. However growth
has also derived from demand for conventional captive solutions
from energy sector clients and insurance company owners relocating
their companies to Guernsey from Bermuda."
Aon Risk Solutions, the global risk management business of Aon
plc (NYSE: AON), recently hosted a captive and insurance seminar in
London. The Aon Guernsey Master Class 2013 was held at the
Chartered Accountants Hall on Tuesday 30 April.
Delegates received presentations from a variety of speakers from
Aon, its clients and service partners including Rolls Royce plc and
Barclays. The sessions covered the latest applications for captive
insurance and reinsurance solutions, the use of cell structures
plus expert accounting and investment briefings. The audience also
heard from Guernsey's Commerce and Employment Minister Kevin
Stewart, who outlined why Guernsey has a competitive edge which has
led to it maintaining its position as
Europe's largest captive insurance domicile.
Mr Sykes added: "We have been greatly encouraged by the
growing interest in our annual Master Class. The number of
delegates attending has grown to well over 100 this year
representing 58 different companies. The feedback we received
reveals risk managers are keen to embed their captive insurance
companies more deeply into their risk management practices.
Attendees were actively seeking fresh and innovative ways of using
their captive insurance companies and protected/incorporated
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