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Guernsey Confident On Fund Sector Prospects

by Jason Gorringe, Lowtax.net, London
11 July, 2017

Guernsey Finance, the promotional agency for the island's finance industry internationally, recently hosted 90 delegates from across the insurance, asset management, and adviser communities at its annual insurance-linked securities conference.

Insurance-linked securities are financial instruments sold to investors whose value is affected by an insured loss event. These securities encompass catastrophe bonds, which concern major events such as earthquakes and hurricanes, as well as other forms of risk-linked securitization.

Delegates to the conference heard that Guernsey has become a leading destination for insurance-linked securities structures in recent years, with the number of locally domiciled insurance entities growing from 804 to 835 by the end of 2016, a substantial year-on-year increase largely attributable to growth in the insurance-linked securities market.

Dominic Wheatley, Chief Executive of Guernsey Finance, commented: "The continued success of our insurance-linked securities [conference], which is now in its fourth year, shows how well thought of Guernsey is as an insurance-linked securities center. Our long track record in insurance, specifically our status as Europe's leading captive insurance domicile, together with our expertise in collateralized reinsurance and the structuring of investment funds and listed vehicles, means that what we can offer is differentiated from many other jurisdictions."

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