24 July 2018Analysis

Guernsey Insurance Forum to focus on 'creative destruction' in island's captive sector

The  2018 Guernsey Insurance Forum will take the island's captive sector "back to its roots", says event host Guernsey Finance.

The theme of this year's conference is 'creative destruction', describing the processes by which the old is replaced by the new - credited to economist Joseph Schumpeter in the 1940s.

"In another year where international tax reform and Brexit threaten to disrupt the status quo, we called on Joseph Schumpeter’s science to put today’s events in context," says Guernsey Finance chief executive Dominic Wheatley.

“Fortunately, creative destruction also has positive potential, which encourages us to look for opportunities amongst the threats, such as technical innovations and organisational transformation. I’m sure this very apt theme will prompt some fascinating discussion from all our contributors.”

Now in its third year, the event hosted by Guernsey Finance will take place in London on Thursday October 11.

The event will feature a keynote speech from Karl Hennessy, CEO of carrier solutions at Aon.

Following this there will be two panel sessions, which explore topics such as the impact of Brexit on risk managers, regulatory risk in the insurance market, as well as the impact of technology, practical substance considerations and outsourcing/offshoring.