Mark Elliott, CEO of Humbolt Re, has been elected as the new chairperson of Guernsey International Insurance Association (GIIA), succeeding Mike John. Previously, Elliot held the position of deputy chairman. Adele Gale, who is head of insurance-linked securities (ILS) at Robus Group, has been elected to take on the position of deputy chair. Meanwhile. Ian Drillot will continue his role as association treasurer. Commenting on his new role, Elliott says: "I am delighted to have been elected as chairman of GIIA. I am looking forward to capitalising on the growth opportunities we have in the industry as well as supporting our members.” “I am particularly keen to build and promote our environmental, social and governance (ESG) credentials and work with Guernsey Finance’s wider strategy for green and sustainable finance,” he adds. In June last year, GIIA enrolled in a United Nations green programme as part of its pledge to the development of sustainable finance. As a supporting organisation of the United Nations’ Principles for Sustainable Insurance (PSI) Initiative, GIIA said it will address ESG opportunities and risks. Commenting on the election, GIIA says: “The election of a new chairperson comes at an exciting time for the insurance sector in Guernsey, with upturns in business in captives, ILS and pension longevity risk solutions.” Guernsey ended 2020 with 291 captives licensed and 43 special purpose vehicles, a decrease on 2019’s figures where Guernsey ended the year with 305 captives. Guernsey Finance suggests that 2021 has already seen a new captive company, protected cell company and individual cell formations.
