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.