The CEO of Aon UK and Chairman of Aon Benfield International has praised
Guernsey's strong reputation in the captive insurance sector
and highlighted the way in which global capital is attracted to the
Dominic Christian was speaking at Aon's annual Guernsey
Captive and Insurance Masterclass at Lloyd's of
London last week.
Mr Christian said: "Aon recognises the need to promote the
developments and innovation of global financial centres in order
that professionals in the area of risk management can serve their
clients more effectively and are aware of the wide-ranging
capabilities that these centres have to offer. Guernsey has a
strong reputation in the captive industry, and this is borne out by
the fact that global capital is increasingly finding its way to the
Also speaking at the event was Fiona Le Poidevin, Chief
Executive of Guernsey Finance - the promotional agency for the
Island's finance industry, who outlined how Guernsey continues
to innovate alongside the insurance industry in order to remain
Europe's largest captive domicile.
Miss Le Poidevin said: "The finance industry remains a
challenging environment and therefore it is important that we
continue to be fleet of foot right across the board, whether that
is having a robust yet proportionate regulatory regime, introducing
new legislation such as Limited Liability Partnerships, or
diversifying the geographical origins of our business flows.
Indeed, we have had a representative office in Shanghai since 2007,
and today we are seeing more new business coming to the island from
further afield, including not just Asia but also Latin America and,
in the captive sector specifically, South Africa, Australia and
Representing the first time the event had been held at
Lloyd's, the masterclass comprised presentations from a variety
of speakers including Aon's clients, colleagues and service
Helen-Clare Pope, Head of Insurable Risk at Tesco, which has a
captive in Guernsey, discussed the supermarket giant's risk
profile, global fronting programmes and emerging risks for
She said: "People talk about cyber risk as an emerging risk
but it is not really 'emerging' - it has been around for
quite some time. There is potential for captives to write these
risks in the future."
Paul Sykes, Managing Director of Aon Insurance
Managers in Guernsey, commented: "We are encouraged by the
continued interest in the Aon Guernsey Master Class and we are
delighted to have had the opportunity to hold the event at
Lloyd's. Guernsey continues to be forward-thinking and dynamic,
an example of this is the recent States of Guernsey IAIS
legislative evaluations, which indicates that Guernsey is leading
the way to becoming the model IAIS jurisdiction."
In this publication, we address how Dubai is leading the way in the application of technology to its healthcare insurance system and how the health insurance law is developing around these initiatives.
The European Insurance and Occupational Pensions Authority published a consultation paper on Implementing Technical Standards on the standardisation of the presentation of the insurance Product Information Document.
The MFSA issued a consultation document proposing the introduction of external auditing requirements for certain quantitative reporting templates that will form part of the Solvency Financial Condition Report.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).