Increasing Lead As Captive Domicile

W
Walkers

Contributor

Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
In 2022 Guernsey is celebrating its 100th year of captives, having established the first ever captive insurance company in 1922. The Island remains the leading domicile in Europe for captives having maintained an...
Guernsey Insurance
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In 2022 Guernsey is celebrating its 100th year of captives, having established the first ever captive insurance company in 1922. The Island remains the leading domicile in Europe for captives having maintained an overarching policy of partnership between industry, the regulator and the legislature to ensure that our regulations move as fast as the industry does. We have a fast-track pre-authorisation regime for cell captives, allowing a captive to be established and start writing business in as little as 48 hours. A new use of Guernsey captives over the last decade has been longevity risk transfer for pension schemes; we expect Guernsey to continue to build on its world leading position in pension scheme de-risking during 2022. Following on from the ground-breaking Lloyd's Central Fund cover and the Danish Red Cross volcanic eruption cat bond, we also expect to see more Guernsey insurance vehicles involved in innovative risk capital solutions and ESG initiatives using Guernsey's ESG framework for insurers. We expect all of these factors to lead to another busy year in the captives, ILS & reinsurance sectors in Guernsey.

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