Guernsey Finance Chair Paul Sykes has been awarded the Steve Butterworth Award for Service in recognition of his outstanding contribution to the international insurance industry.
Presented annually by the Guernsey International Insurance Association (GIIA), the award honours an individual who has made a significant and lasting impact on the industry over more than 20 years.
Paul’s career has been instrumental in shaping Guernsey’s insurance industry, spanning captive solutions, Insurance Linked Securities, the island’s emerging reinsurance sector and humanitarian finance solutions.
As the Managing Director responsible for Aon Insurance Managers, Paul was involved in launching the world’s first Protected Cell Company, White Rock PCC in 1997, and went on to become Aon’s first global head of the White Rock Group of companies.
Since then, Paul has chaired most of the insurance trade associations and professional bodies locally and is the immediate past Chairman of the Guernsey International Business Association which represents 7,000 professionals working in Guernsey’s finance sector. He subsequently became chair for Guernsey Finance in April 2025.
Commenting on his award, Paul said: “It is a great honour to receive the Steve Butterworth Award for Service from GIIA. I worked with Steve Butterworth as the industry’s regulator for many years and again during his iNED portfolio career when he stepped down from the GFSC. Steve was a role model and somebody that inspired me hugely. Having also had the privilege of serving as Chair of GIIA almost a decade ago, this recognition is particularly meaningful. The Guernsey insurance industry has always led by example internationally, driven by a spirit of innovation and collaboration that makes the island such a dynamic and rewarding place to work.
“Over the past 35 years, I have been fortunate to work alongside some of the best professionals in the insurance industry at Aon and internationally. I’m proud to have contributed to the development of solutions such as the Protected Cell Company model, ILS and reinsurance. At Guernsey Finance I’m excited to continue advancing the culture of excellence, ensuring Guernsey remains at the forefront of global financial services.”
Paul originally trained with Royal Insurance (RSA) before setting up Aon’s operations in Malta and developing Gibraltar’s insurance sector, where he served as Chair of the Gibraltar Insurance Association in 2010.
He is a Chartered Insurer and a Fellow of the Chartered Insurance Institute, most recently becoming a Chartered Director with the Institute of Directors.
James Stewart, Chair of the Guernsey International Insurance Association added: “Paul’s recognition for the Steve Butterworth Award is richly deserved. He restructured GIIA as the Chair a decade ago and introduced GIIA’s Market Development Committee amongst other initiatives. GIIA’s Market Development Committee has been and continues to be a real engine for growth of Guernsey’s insurance industry. Paul’s pioneering work and leadership have helped cement Guernsey’s position as a world leader in insurance innovation.
“His deep understanding of international markets brings enormous value to his role as Chair of Guernsey Finance as we continue to promote the island’s expertise on the global stage. We are delighted that his achievements have been recognised through this prestigious award.”
Pictured: Left to right – Steve Butterworth and Paul Sykes
