For the second year in a row, Guernsey has earned the title of Europe’s largest captive domicile, with 199 captives domiciled at the end of 2023.
There were four new captives formed in Guernsey last year and nine new captive cells, according to statistics from the Guernsey Financial Services Commission (GFSC).
Guernsey has a long history of domiciling captives, with more than 100 years of captive experience. In that time, the island’s insurance industry has continuously evolved to offer specialist captive expertise to a global client base.
Notably, Guernsey is also the domicile of choice for 40% of FTSE 100 companies, saving UK business almost £100 million and providing specific coverage to UK businesses according to recent research by Frontier Economics.
Adele Gale, Chair of the Guernsey International Insurance Association, said this reaffirms Guernsey’s position as a premier hub for captive insurance: “Guernsey’s wealth of professional expertise and proportionate regulatory environment continue to make us a domicile of choice for those looking to take control of their risk universe.
“We are very much looking forward to hosting the first on-island captives conference in 25 years, taking place in Guernsey in June this year in collaboration with AIRMIC.”
