A diverse business: Guernsey’s insurance sector
Guernsey’s position as Europe’s leading captive insurance domicile has made the jurisdiction renowned for captive insurance activity — a large proportion of which provides general insurance cover to UK parents, many of them listed companies. Indeed, approximately 40 per cent of the leading companies on the London Stock Exchange and 95 of the Global 500 companies have captives in Guernsey. However, it is also home to a number of insurers and reinsurers underwriting third-party risks including life insurance/assurance as well as more exotic risks such as kidnap and ransom and ‘after-the-event’ insurance.
Guernsey’s long-established protected cell companies (PCCs) (as well as its younger offspring, the incorporated cell company, or ICC) are frequently used as incubators for small captive businesses and as special-purpose vehicles for insurance-linked securities and transformer structures that convert financial risk into insurance risk and vice versa.
This article summarises the legal framework underpinning Guernsey’s successful and diverse insurance sector…
Click on the link below to read the rest of the Carey Olsen briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Carey Olsen
News from The Lawyer
Briefings from Carey Olsen
Independent directors with experience bring something extra to the table; and protecting yourself from uncertainty.
Accelerated timetable for amalgamations, migrations and takeovers.