News by sections

News by region
Issue archives
Archive section
Emerging talent
Emerging talent profiles
Domicile guidebook
Guidebook online
Search site
Features
Interviews
Domicile profiles
Generic business image for news article Image: Shutterstock

10 March 2017
St Peter Port
Reporter Becky Butcher

Share this article





Guernsey sees 93 new captives and cells in 2016

Guernsey welcomed 82 new cells and 11 captives in 2016.

Of the total 93 additions, six were captive insurance entities, four were protected cell companies (PCC), 76 were PCC cells, one was an incorporated cell company, four were incorporated cell company cell and two were life policy PCC cells.

In total, Guernsey is now home to 837 captive insurance entities.

Guernsey recently celebrated 20 years since the introduction of protected cell companies.

The PCC legislation became effective for Guernsey’s captive insurance sector on 1 February 1997, following development of the concept from Steve Butterworth, director of insurance at the Guernsey Financial Services Commission between 1988 and 2003.

Dominic Wheatley, CEO of Guernsey Finance, commented in February: “The fact Guernsey’s cell company concept has been copied by finance domiciles across the world, with thousands of PCCs and cells employed across the insurance, funds and private wealth sectors, is a tribute to the genius of Butterworth’s simple idea.”

Subscribe advert
Advertisement
Get in touch
News
More sections
Black Knight Media