Guernsey licensed 12 new captives in 2022, taking it to 201 in total at year-end and ahead of Luxembourg in terms of active captives.
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New captives licensed in Guernsey during 2022 included THG Insurance Limited, a single parent captive owned by THG Plc and managed by Aon, Yancoal Insurance Company Limited, owned by mining company Yancoal Australia, and Sky Summit Insurance Limited.
Guernsey now has more captives than Luxembourg (195), while Isle of Man now has 98 and Ireland 66 active captives.
“This is a great endorsement of Guernsey’s captive offering, coming soon after our 100 years of captives anniversary celebrations,” said Mark Elliott, Chair of the Guernsey International Insurance Association (GIIA).
“We have a high quality, experienced captive infrastructure with leading service providers and a pragmatic and robust regulator which is what sets us apart. We look forward to continuing to innovate and promote the captive proposition to existing and new clients going forwards.”
Rupert Pleasant, chief executive of We Are Guernsey, said: “It is testament to the quality and experience of our practitioners. Guernsey is a is globally renowned centre for specialist financial services, a jurisdiction of substance and it is gratifying to reach this milestone.”