Guernsey is Europe’s largest captive domicile, for the second year in a row.
The island reported 199 captives domiciled at the end of 2023, with four new captives and nine new captive cells formed last year, according to statistics from the Guernsey Financial Services Commission (GFSC).
Guernsey is also the domicile of choice for 40 per cent 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 jurisdiction has more than 100 years of captive experience. The island’s insurance industry has continuously evolved to offer specialist captive expertise to a global client base, Guernsey Finance says.
Adele Gale, chair of the Guernsey International Insurance Association, comments: “Guernsey’s wealth of expertise and proportionate regulatory environment continue to make us a domicile of choice for those looking to take control of their risk universe.”
She adds: “We are very much looking forward to hosting the first on-island captives conference in 25 years, taking place in Guernsey in June this year in collaboration with AIRMIC.”
