Guernsey

The Guernsey International Insurance Association (GIIA) has said it welcomes HM Treasury’s captive consultation response, in which Rachel Reeves MP gave a long discussed potential UK captive regime the green light.

The UK is already a very mature market when it comes to captive utilisation. The corporate community has not required a ‘home’ domicile to become, by some distance, the second largest captive owning country.

Jeometri Insurance Managers plans to utilise its combined experience with Alpha Growth to maximise the use of a new Guernsey protected cell company (PCC), subject to regulatory approval, according to Aaron Slattery, client services director at Jeometri.

Richard is joined by Jeometri's Darren Wadley, founder and executive director, and Aaron Slattery, client services director, begin a discussion on cell and captive utilisation for commercial brokers and entrepreneurs.

Erithmitic has worked with Polo Insurance Managers to launch a new reinsurer in Guernsey, Navigate Re.

When it comes to generating surplus, captive owners operate differing strategies, with some insureds intent on posting a large profit, while others utilise the captive primarily to reduce premium spend and remain content to simply breakeven.

Jaguar Land Rover formed a pure captive in Guernsey last year, and has begun reinsuring customer motor policies in the United Kingdom.

Experienced insurance manager John Rowson has joined Alternative Risk Management as new business director.