Guernsey is in the top tier of captives

GUERNSEY’s position in the worldwide top four in the captive insurance sector has been confirmed by two recent studies.

The weekly industry publication Business Insurance asserts that Guernsey is the home of more captives than any other European jurisdiction and names the island as the fourth largest player in the market globally.

The monthly publication Captive Insurance, meanwhile, also places Guernsey first in Europe but ranks it third in the world.

The rankings were greeted warmly by Peter Niven, the chief executive of Guernsey Finance, who said: ‘The key message that we can take from these surveys is that Guernsey remains the leading captive insurance centre in Europe and is in the top tier with the very best internationally.’

Surveys indicate that Bermuda is top of the league with 885 captives. The Caymans have 780, Vermont 560, and Guernsey 355. The Isle of Man has 145, but so far Jersey has only three.