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Daily Insurance Industry News
Wednesday 23rd of May 2018
April 16, 2011

Guernsey increasingly attractive to captives

by Gill Montia

Story link: Guernsey increasingly attractive to captives

Guernsey increasingly attractive to captives

Aon is expecting the number of captive insurance companies domiciled in Guernsey to increase significantly as the implications of compliance with Solvency II become better understood by captive managers and owners.

The firm suggests that while the capital requirements of Solvency II may be appropriate for commercial insurers dealing with the general public, many captive managers and owners believe the International Association of Insurance Supervisors’ international regulatory standards will be sufficient for most traditional captives.

Aon Insurance Managers (Guernsey) managing director, Paul Sykes, comments: “Guernsey … offers a stable and solid political and regulatory regime while not forcing captives to adhere to the disproportionate demands and excessive capital requirements of Solvency II.”

He adds: “Increasingly this will differentiate Guernsey from other domiciles and we fully expect businesses with captives to see Guernsey as the place to do business.’’

 

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