Guernsey named Europe's best captive domicile for third straight year.

Guernsey has been crowned European domicile of the year for the third successive year at the UK Captive Services Awards 2015.
The awards, now in their third year, formed part of the Captive Live UK 2015 Conference and also saw Malcolm Cutts-Watson, the former Chairman of the Global Captive Practice for Willis internationally and a past Chairman of the Guernsey International Insurance Association (GIIA), recognised for his outstanding contribution to the industry. In addition, a number of Guernsey based firms were named as winners in their respective categories, including Kane who walked away with three awards on the night.
Guernsey was named European captive domicile of the year ahead of other shortlisted jurisdictions: Dublin, Gibraltar, Luxembourg and Malta. The award was collected on behalf of industry by Nikki Zabiela of Guernsey Finance – the promotional agency for the Island’s finance industry.

Dominic Wheatley, Chief Executive of Guernsey Finance, said: “I am delighted that Guernsey has completed a hat-trick of wins in the European domicile category. We are very proud of our international insurance expertise and feel we had a very successful 2014. The award is a fantastic way for our captive insurance sector to begin 2015.”
Figures from the Guernsey Financial Services Commission show that there were 797 international insurers licensed in the Island at the end of December 2014, compared with 758 a year previously. The net growth of 39 entities included 85 additions, comprising eight limited companies, three Protected Cell Companies (PCCs), 54 PCC cells, five Incorporated Cell Companies (ICCs) and 15 ICC cells.

Mr Wheatley added: “It is also extremely pleasing to see that Malcolm Cutts-Watson, who has been such a key player and dedicated so much time to the development of Guernsey’s international insurance industry over the years, has been recognised for his contribution. Similarly, the fact that so many Guernsey firms were winners at the awards demonstrates that as an Island we have a particularly strong reputation for client service and innovation.”

 

Read the press release here
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