Guernsey Finance, which promotes the island’s finance industry, said there were 766 international insurers licensed in the island at the end of June. This number comprises 241 limited companies, 70 Protected Cell Companies (PCCs), 428 PCC cells, five Incorporated Cell Companies (ICCs) and 22 ICC cells.
This compares to a total of 737 international insurers licensed by the GFSC at the end of December 2012, meaning a net growth of 29 entities during the first six months of the year. At the end of September last year, the number stood at 746.
Guernsey Finance chief executive Fiona Le Poidevin said: “These figures show that the first half of this year has been very successful for Guernsey as an international insurance centre. The numbers are particularly impressive considering that they follow a very strong performance during the past couple of years.
“This continued growth during the first half of the year shows the ongoing attraction of Guernsey as a domicile that can provide solutions to meet a range of different risk management needs.”
The GFSC also revealed a growth in gross assets, net worth and gross premiums for international insurers compared with 2011. It said gross assets rose from £21.76bn to £22.9bn, net worth increased from £8.97bn to £9.43bn and gross premiums rose marginally from £4.62bn to £4.63bn.
