The Guernsey Champagne Reception, hosted by Guernsey Finance in Monte Carlo, marked its 10th anniversary on 8 September, celebrating a decade of industry engagement alongside developments reinforcing the island’s position as a hub for reinsurance, insurance-linked securities (ILS) and captives. The event takes place each year during Les Rendez-Vous de Septembre, where professionals gather to discuss industry trends ahead of the annual reinsurance renewals. Guernsey first held its own reception alongside the conference in 2016. Paul Sykes, chair of Guernsey Finance, opened the reception with a welcome address reflecting on recent examples of growth, including the establishment of a new Guernsey-based reinsurance entity, Zenkyoren Re. Owned by one of the world’s largest co-operative organisations, the Japanese firm selected Guernsey to manage its reinsurance operations because of the jurisdiction’s experience supporting international reinsurance and ILS structures. Sykes says: "Insurers and reinsurers are looking for stability, expertise, proportionate regulation and jurisdictions that can respond with agility, qualities that have served Guernsey well for decades. With a clear strategy for growth and proven strengths across captives, commercial reinsurance, ILS and humanitarian finance, Guernsey is well placed to take advantage of the opportunities ahead." Ian Thompson, chief executive officer of Ascot Group, delivered the keynote address following an introduction from Mark Elliott, chief executive officer of Marco Re and Polo Insurance Managers. Thompson shared his experience of working with the Guernsey Financial Services Commission and local industry in establishing the subsidiary Ascot Insurance Guernsey in late 2025. He says: "Guernsey has really become a natural home for us. Guernsey can do things that others can't. Firstly, there's that ease of regulation and transaction, and there's that razor-sharp focus of what really matters." He cautioned against complacency following several years of strong performance, warning that a combination of abundant capital and increasing competition was driving a rapid softening of pricing conditions. He stressed the importance of underwriting discipline and argued the industry must remain focused on long-term sustainability and resilience in the face of future catastrophe losses. Thompson says: "Mother Nature has a brutal way of reminding you who's in charge. When you think of the wildfires, the endless flooding, the wars in the Middle East and the inevitable windstorms, I really think the world needs our industry to be stable and upbeat right now." The reception closed with remarks from John Rowson, managing director at Howden.
