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Guernsey Adds 19 Insurance Entities In H1

by Jason Gorringe, Lowtax.net, London
25 August, 2015

There were 816 licensed insurers in Guernsey at the end of June 2015, according to the latest figures from the Guernsey Financial Services Commission (FSC).

The FSC reported that it has licensed 45 new international insurers during the first six months of this year: two Protected Cell Companies (PCCs), 30 PCC cells, one Incorporated Cell Company (ICC), two ICC cells, and four life policy cells.

This compares with a total of 797 GFSC-licensed international insurers at the end of December 2014, a net growth of 19 so far this year.

Dominic Wheatley, the Chief Executive of Guernsey Finance, said: "These figures reinforce the fact that Guernsey is home to a vibrant international insurance center and is able to provide solutions to meet a range of different risk management needs. The half-year figures are particularly impressive when you consider how they follow and maintain several years of strong performance in the sector."

Guernsey Finance has announced that it is to host a free-to-attend thought leadership event, Longevity - is there life in captives?, on October 14 in London. The event, which will take place at the British Museum, will bring together experts from across the insurance and pension space for dialogue and debate surrounding key industry issues.

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