Guernsey

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.

Aon and the European Bank for Reconstruction and Development (EBRD) have launched a €110m (£90.7m) guarantee scheme to provide reinsurance capacity for war-related risks in Ukraine. 

The Trustee of the Merchant Navy Ratings Pension Fund (MNRPF) has used a Guernsey incorporated cell to facilitate a deal with MetLife concerning longevity risk in relation £450m of pensioner and dependant liabilities.

Warranty Solutions Group (WSG) has formed a new Guernsey-domiciled insurer, WSG Guardian Insurance Ltd.

Mark Owen is now managing director of Artex’s Guernsey office, having relocated to the jurisdiction last month after more than eight years in Bermuda.

Financial services company Alpha Growth PLC’s recent acquisition of Guernsey-based Jeometri Insurance Managers will provide the captive manager with “numerous opportunities” going forward, according to Darren Wadley, founder and executive director at Jeometri.