Industry Associations
Industry associations
The Guernsey International Business Association (GIBA) is the representative body of the financial services industry in Guernsey.
GIBA is an ‘association of associations’ and brings together six finance industry sector representative bodies. Representing firms operating in the banking, trust and private wealth, legal, insurance, accountancy services and the funds sector, GIBA works closely with the States of Guernsey and the Guernsey Financial Services Commission (GFSC) on a wide range of matters affecting the finance industry.
The Guernsey International Insurance Association (GIIA) was formed in 1983 to represent the combined interests of both Guernsey insurers and Guernsey insurance managers. The Guernsey insurance industry has historically been dominated by captive insurance and protected cell companies, at least in terms of the number of licensed insurers operating from the island. Almost all of these insurers are run by licensed insurance managers. This inevitably means that the majority of insurance professionals represented in the association are insurance managers. However, the membership also includes all the island’s major international life assurers. In recent years, the Guernsey Insurance Industry has expanded through the development of insurance linked securities (ILS) products and Guernsey insurers also provide a significant share of the market capacity for Kidnap & Ransom (K&R) and Fine Art insurance today.
The Guernsey Investment & Funds Association (GIFA) was established as a trade association in 1989 and merged with the Guernsey Investment Managers and Stock Brokers Association (GIMSA) in 2019. GIFA was formed to represent the Island’s growing fund and investment management industry. Our membership spans the whole spectrum of the Island’s investment community, including fund managers, administrators, custodians, investment managers, stock brokers and non-executive directors as well as professional firms such as lawyers, accountants and consultants who are closely involved in the work of the investment industry.
GIFA’s principal objective is to protect and enhance the collective interests of its members. This means working closely with the Island’s government, promotional agencies and regulators to ensure that investment & funds businesses are able to develop and introduce new products and services to meet the increasingly sophisticated needs of the international investor. It also means striving to maintain the Island’s reputation as a safe and well regulated offshore centre with a strong commitment to investor protection.
The Guernsey Association of Trustees (GAT) is the industry representative body for fiduciary licence holders in Guernsey. Our membership largely consists of Trust and Company service providers and individuals in the Bailiwick of Guernsey and fully regulated by the GFSC as either Full or Personal licensees, but also extends to lawyers, accountants, compliance professionals and other individuals locally with an interest in the fiduciary industry.
Through our Association GAT members can comment and help to shape local regulatory and legislative issues affecting the industry. Members also have the opportunity to voice opinion about external issues that affect Guernsey. Exclusive members-only events encourage networking with peers and GAT Sponsors, keep members up to speed with industry news and provide guidance on the practical application of changes impacting their business. Members receive monthly newsletters and mailshots directly to their inbox delivering relevant news, events and sponsor articles. To learn more about GAT and/or to apply to become a member, please visit our website.
The Guernsey Association of Pension Providers (GAPP) is a not-for-profit organisation representing the interests of all of those involved with pension, retirement, saving and gratuity scheme provision in the Bailiwick of Guernsey. The objectives of GAPP include the promotion of pension, retirement, saving and gratuity issues and a sharing of knowledge for best practice purposes.
GAPP makes representations as appropriate to various States bodies and the GFSC.
The Association of Guernsey Banks (AGB) provides a forum for the discussion of matters of interest between its members; it also acts as a focal point in matters of liaison between the local banking industry and various stakeholders, maintaining regular contact with the Guernsey Financial Services Commission, States Departments, Administrator of Taxes and such other bodies as from time to time may be appropriate. Any company which is licensed under The Banking Supervision (Bailiwick of Guernsey) Law 1994 as amended, is eligible to be a member.
The Guernsey Society of Chartered and Certified Accountants (GSCCA) was formed nearly 50 years ago and has over 1200 members.
The primary objects of the Society are:-
- to provide a forum for discussion on matters of mutual interest to members of the Society and to provide a medium for expression of professional opinion on matters of public interest;
- to establish a recognised medium for communication between the Society and the Public Authorities of Guernsey, other professional bodies with related interests;
- to promote harmonisation of accounting and auditing practices and principles throughout the Channel Islands in conjunction with the Jersey Society of Chartered and Certified Accountants;
- to promote the continuing education of members of the Society including the running of Annual Update Courses, Annual Tax Courses and Lecture Lunches covering industry specific topics with CPD points awarded to those attending.
- university scholarship of £15,000 awarded annually to one student attending a UK university.
The Guernsey Commercial Bar Association (CBA) is a sub-committee of the Guernsey Bar Council, and represents those firms of Advocates in Guernsey who advise on elements of commercial law. The CBA promotes and enhances the practice of commercial law in Guernsey in the following ways:
- by encouraging and facilitating co-ordination and co-operation between firms of Advocates on matters of common interest
- by representing the legal profession on the Council of the Guernsey International Business Association
- by working with the States of Guernsey, the Law Officers, the GFSC and other authorities in the proposal, preparation and revision of laws and regulations in the jurisdiction.
