Guernsey has once again been shortlisted for European Domicile of the Year at the European Captive Review Awards 2024, hosted by Captive Review.
The awards recognise and celebrate consistent and emerging excellence in captive insurance providers, including jurisdictional categories for captive domiciles.
At the beginning of 2024, it was confirmed that Guernsey remains Europe’s largest captive domicile, with 199 captives domiciled at the end of 2023.
There were four new captives formed in Guernsey last year and nine new captive cells, according to statistics from the Guernsey Financial Services Commission (GFSC).
Guernsey has a long history of domiciling captives, with more than 100 years of captive experience. In that time, the island’s insurance industry has continuously evolved to offer specialist captive expertise to a global client base.
Notably, Guernsey is also the domicile of choice for 40% of FTSE 100 companies, saving UK business almost £100 million and providing specific coverage to UK businesses according to recent research by Frontier Economics.
The Guernsey International Insurance Association has also been shortlisted for the Captive Collaboration Project of the Year award for their curation of the Guernsey Certificate in International Insurance Management in partnership with Sagacious Group. The course aims to give candidates actionable, practical knowledge of all facets of the Guernsey insurance international industry, from governing laws, governance and basic principles to the specifics of captive insurance and index linked securities.
The winners of the awards will be selected by a panel of judges and will be announced at an awards ceremony in London on 20 November 2024.
