Guernsey’s finance industry has witnessed a stable second quarter and is showing signs of renewed growth in the second half of the year.
Previously released figures from the Guernsey Financial Services Commission showed an uptick across each of the investment funds, banking and insurance sectors during the first quarter of the year.
The insurance sector saw net growth of 37 entities between the end of last year and the end of July 2013.
Fiona Le Poidevin, chief executive of Guernsey Finance, said: "The performance during the first quarter of the year was very pleasing but we recognised at the time that external factors, such as rising stock markets, were playing their part. The new figures for the second quarter show a relatively flat but stable picture and this is understandable when we consider that during the period we saw a correction in the wider equity markets.”
"However, the industry is also showing signs of renewed growth during the second half of the year, with figures for the insurance sector showing continual increases in the net number of entities domiciled on the island and there is anecdotal evidence from the funds sector of a pick-up in business coming through the pipeline, especially in the closed-ended, listed space."
