Guernsey

A growing number of companies in the mining, metals, oil and gas sectors are looking towards captive utilisation, particularly in the metals and mining middle market segment, with traditional carriers reducing capacity and increasing exclusions concerning climate risk.

While the Labour election victory on 4 July is expected to delay progress on the proposed United Kingdom captive legislation, local industry has not given hope of pushing the new framework through.

While the Lloyd’s Captive Syndicate proposition is mostly appealing to the largest, most sophisticated clients it provides an environment for insureds to future proof their risk financing strategies, according to William Thomas-Ferrand, international captive practice leader at Marsh Captive Solutions.

Paul Marquand is set to succeed Ian Drillot as head of the Guernsey office for Marsh Management Services, effective 1 July.

Guernsey is a popular European domicile for many UK defined benefit (DB) pension scheme longevity swaps, according to Christopher Anderson, partner at law firm, Carey Olsen.

Companies in certain European countries are less likely to utilise cells than others, according to Jelto Borgmann, captive portfolio manager at HDI Global.

The Dubai International Financial Centre (DIFC) has increased the registration of insurance and reinsurance firms by 20%, including the first re-domestication of a Guernsey-based captive.

I have read with interest numerous articles discussing the possible Brexit Bonuses available to the UK. Principle among these bonuses is refining Solvency II regulation to better reflect the UK’s leading global (re)insurance industry.