Finance to focus on insurance

Tuesday 2nd February 2010, 3:00PM GMT.

Jersey Finance chief executive Geoff Cook: ‘Funding will be required’

THE development of an insurance industry as a possible fourth pillar of the finance industry is a high priority for Jersey Finance in 2010.

An audience of industry professionals heard last week that significant effort would be put into developing insurance business.

But Jersey Finance chief executive Geoff Cook said that the body would need the necessary funding to enable it to lead efforts to increase the Island’s share of the insurance market.

Guernsey has a significant insurance industry and now plays host to a total of 678 international insurance entities. The number of insurance licences issued in Guernsey last year was almost 25 per cent more than during 2008.

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