Guernsey is a leading international insurance centre
writing significant amounts of life insurance
Centre Of Excellence
Guernsey's insurance industry has its origins in the
eighteenth century, when the writing of marine insurance was a
natural extension of its thriving shipping activities.
Since that time the sector has grown markedly, with the
Island becoming a centre of excellence for international
Indeed, Guernsey is renowned for its:
Strong insurance experience
Breadth and depth of expertise
Leading captive insurance domicile in Europe
Robust yet pragmatic regulations
IMF and FATF endorsement
Broad-based finance industry
Position outside of the EU
Political and economic stability
Location away from areas of major natural disasters
Close proximity to London and Europe
Over recent years, with increasing numbers of high net
worth, mobile individuals and multinational organisations
requiring global insurance and investment solutions, the
international life insurance industry has become a
sophisticated sector enjoying significant development in the
Today the Island plays host to a wide variety of providers
in this arena, with geographical ownership including France,
Italy, Luxembourg, Scandinavia, South Africa and the UK and
ranging from independent operations through to leading
Together these providers write a sophisticated and diverse
spread of business, comprising:
Servicing the life and health insurance needs of high net
worth individuals the rise in numbers of ultra affluent and
extremely mobile individuals means this is an area of
Managing employee benefit needs (life and health) for many
of the world's multinational organisations there are
increasing numbers of cross-border employers trying to meet the
challenges of covering their commercial risks in the most
cost-effective manner and ensuring that their rewards packages
can meet the demands of the internationally mobile executive.
Three of the largest employee benefits networks have a
significant presence on the Island.
Utilising insurance policies for investment purposes
Guernsey's stringent policyholder protection rules and
the fact that there is no withholding tax on dividends are
compelling reasons for international investors to utilise
insurance policies in Guernsey as part of a broad wealth
Guernsey's pioneering work in the field of captive
insurance means providers on the Island have access to
Protected Cell Companies (PCCs) and Incorporated Cell Companies
(ICCs) as well as traditional structures. The Island's
culture of innovation, backed up by a pragmatic regulator,
means that Guernsey is continually working to find new types of
solutions that will be attractive for providing international
Since the PRIIPs Regulation was published on 9 December 2014, the concept of a multi-option product has been one of the most discussed topics among the manufacturers of insurance-based investment products.
Directors & Officers Insurance (D&O) is a relatively new
branch of insurance in the United Arab Emirates (UAE) market.
Accordingly, issues such as allocation of costs have not yet been
considered by UAE or Dubai International Financial Centre (DIFC)
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.
From August 12 2016 when the UK's Insurance Act 2015 takes effect there will be differences affecting business (ie non-consumer) policies issued in Isle of Man and those issued in UK, including renewals.
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).