The awards, now in their fourth year, are hosted by Captive
Review and recognise and reward captive insurance service
providers that have demonstrated exceptional customer service and
innovative product development over the past 12 months.
Guernsey was shortlisted alongside Dublin, Gibraltar, Luxembourg
and Malta in the best European domicile category. The award was
collected on behalf of industry by Adele Gale of Aon Risk
Dominic Wheatley, Chief Executive of Guernsey Finance, said:
"Guernsey's captive insurance offering continues to evolve
and I am delighted that the Island has received this award for the
fourth year in a row. It is recognition of our leading
international insurance expertise and a great way to begin
In addition, a number of Guernsey-based firms were named as
winners in their respective categories including Aon Captive &
Insurance Management, BWCI, Kane, White Rock Group and Willis
Mr Wheatley said: "The Guernsey businesses which won in
their respective categories have been particularly innovative in
their approach to meeting client needs during the past year. This
is the continuation of a long term trend within Guernsey's
captive insurance industry and is something we will be looking to
build on further during 2016."
Figures from the Guernsey Financial Services Commission (GFSC)
show that there were 804 international insurers licensed in the
Island at the end of December 2015 - the first time that the
end-of-year figures from the GFSC have recorded the Island being
above the 800 threshold. The 804 insurers comprise 242 limited
companies, 64 Protected Cell Companies (PCCs), 444 PCC cells, 13
Incorporated Cell Companies (ICCs) and 41 ICC cells.
After winning actuarial firm of the year, BWCI Partner Ian
Morris said: "Winning this award consistently over a period of
four years recognises our sustained commitment to the provision of
high quality good value actuarial services to captives. With
Guernsey also retaining its title as European captive domicile of
the year, Guernsey continues to be the leading jurisdiction for
captives in Europe and can look forward to continuing growth in
The UK Captive Services Awards 2016 took place at
Plaisterers' Hall, London on Thursday 11 February and formed
part of the UK Captive Owners Summit which took place the same day
at Clothworkers' Hall, London.
Hiscox Syndicate 33 recently became the first Lloyd’s syndicate to enter into a sidecar transaction. This highlights the growing prominence of the sidecar as a capital-raising vehicle for property catastrophe risks.
Growth in the captive insurance market will be driven by intermediaries and brokers establishing vehicles to aggregate the risks of their individual customers, it has been claimed by a panellist at the Guernsey Insurance Forum.
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