24 April 2013EMEA analysis

Guernsey: Solvency II opt out proving its worth

Guernsey’s decision to opt out of Solvency II has helped to strengthen its global position in the captive industry, with the Island welcoming 72 licensees in 2011 and a further 97 in 2012, bringing total captives to 737 by the close of 2012.

Guernsey is now the largest captive insurance domicile by numbers and the fourth largest globally. The value of premium written on Island rose from $7.3 billion in 2008 to $7.7 billion in 2012, with the industry premiums written projected to grow to $9.6 billion by 2017, according to Timetric.