Guernsey retains title of best non-Asian domicile in captives

17 October 2019

Guernsey’s captive insurance expertise has received further recognition in Asia as the global finance centre was named best non-Asian Domicile for the second year in a row at the 2019 Asia Captive Review Awards.

The Awards recognise and reward exceptional providers of captive insurance products and services. They were held for the first time last year, with Guernsey victorious in the same category. This year’s ceremony was held in Singapore on 10 October.

The Guernsey entry focused on the island's ongoing work in Asia to boost its captive business – local firms are making trips to the region to establish relationships – and also progress in the wider insurance sector over the last year such as the introduction of the ILS rollover and the world's first hybrid vehicle for use in the insurance-linked-securities sector.

Guernsey Finance Chief Executive Dominic Wheatley said: “As Europe’s leading centre for captive insurance, we are delighted that Guernsey continues to be recognised further afield.

“Interest in captives in Guernsey is growing in today’s hardening market and our local industry is seeing an increased level of inquiries. Our strengths remain our robust economic regime and our long track record in managing captives properly.”

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