As captive governance matures, should iNEDs be required in more domiciles?

• Guernsey and Isle of Man only major captive domiciles where an iNED is required
• Increasing governance requirements put greater onus on captive boards
• Efforts made in Guernsey to broaden the pool of qualified directors available to captives
• Restriction on board appointments under discussion in Guernsey

The corporate governance requirements for captive boards is only increasing and it has been questioned why more domiciles do not require independent non-executive directors (iNEDs).

In a discussion recorded for the Global Captive Podcast SRS Europe CEO Peter Child, local iNED Nick Wild and Airmic CEO Julia Graham debated the evolving role of captive directors, the greater onus put on them by regulators, whether there should be a limit on the number of positions one individual can hold and if other domiciles should introduce the requirement.