Willis secures Guernsey commercial licence

by Gill Montia

Story link: Willis secures Guernsey commercial licence

Willis Group has been issued with a full commercial lines licence to conduct insurance intermediary services in Guernsey.

The firm now claims to be the only London-based insurance broker with both a Guernsey licence and a full-time local representative based in the Channel Islands and dedicated to providing financial institution, professional indemnity and directors’ and officers’ liability solutions.

Nick Bachmann, Willis business development executive, FINEX National, comments: “We know it is important to have a local representative from a regulatory perspective, but it is equally important from a local relationship-building perspective.”

He adds: “Most of our clients have mentioned how important it is for them to have someone on the island with whom they can meet regularly, and face-to-face as opposed to over the phone.”

Willis is already licensed by the Guernsey Financial Services Commission to carry out captive insurance management services on the island.