Guernsey

[Last updated: 27/06/16]
Regulatory contact:
Jeremy Quick, Director of Banking and Insurance Supervision and Policy
Address of regulator
Guernsey Financial Services Commission, Glategny Court, St Peter Port, Guernsey, GY1 3HQ
Telephone Number
+44 1481 712706
Email Address
jquick@gfsc.gg
Website
www.gfsc.gg

Name of Captive Legislation
The Insurance Business (Bailiwick of Guernsey) Law, 2002

Year Legislation Passed
2002

Recent Amendments
The Insurance Business (Solvency) Rules, 2015

Do you allow Cell Captives?
Yes

Total Number of Licenced Captives
Licensed international insurers 320 
Protected Cell Companies 56 (excluding ILS, 286 including ILS)
Incorporated Cell Companies 17 

Number of Risk Retention Groups or Group Captives
N/A

Number of Single Parent Captives
Licensed international insurers 230 

Number of Cell Captives
Protected cells 286
Incorporated cells 55

Number of licences granted in the past year (2015 calendar year)
23 (of which 17 cells)

Approximate (or Average) length of time to process a new captive
30 days

Captive tax rates 
Zero

Minimum capitalisation rate
£100,000 General or £250,000 Life

Licencing fees 
2019
Application – Insurer £5,596, Cell £1,830
Annual – Insurer £5,596, Cell £1,830
2017 fees currently out for consultation.


Top 5 uses for captives in the domicile
Property
Public Liability
Employer’s Liability
Medical
Motor

Total premiums received by the Captives
£5.10bn (2017)

Total value of assets under management
£28.33bn (2017)

Captive Insurance Managers registered to conduct business in the domicile
See link
Licensed Insurance Managers