2014-02-25 09:26:03 - The Insurance Industry in Guernsey, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
Guernsey has the largest captive insurance industry in Europe, and the fourth-largest in the world, and hosts global insurance providers, especially from the UK. However, the non-captive or conventional insurance industry also recorded stable growth during the review period, generating revenues from motor, property damage, life insurance, business interruption, transport, employers, public liability and material damage insurance.
â¢ Guernsey has the largest captive insurance industry in Europe, and the fourth-largest in the world, and hosts global insurance providers, especially from the UK
â¢ At the end of 2012, it was home to 737 overseas insurance providers, compared to 687 in 2011, as 97 new insurance providers registered, while 47 withdrew their licenses
â¢ Guernseys insurance industry is well established and advanced
in terms of product innovation, regulation and competitive business environment. This, coupled with the governments favorable corporate tax regime, has encouraged global captive insurers to venture into Guernseys insurance industry
â¢ The Guernsey government and insurance regulator GFSC apply no tax on corporate income, capital gains and payroll for insurers operating in Guernsey, encouraging overseas insurers to venture into the industry
â¢ The Guernsey government and GFSC have issued a joint statement confirming that they would be opting out of Solvency II equivalency
This report provides a comprehensive analysis of the insurance industry in Guernsey:
â¢ It provides historical values for Guernseys insurance industry for the reports 2008â2012 review period and forecast figures for the 2012â2017 forecast period
â¢ It offers a detailed analysis of the key segments and categories in Guernseys insurance industry, along with industry forecasts until 2017
â¢ It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
Reasons to Buy
â¢ Make strategic business decisions using in depth historic and forecast industry data related to Guernseys insurance industry and each segment within it
â¢ Assess the competitive dynamics in Guernseys insurance industry
â¢ Understand the demand-side dynamics, key market trends and growth opportunities within Guernseys insurance industry
â¢ Identify the growth opportunities and market dynamics within key segments
â¢ Gain insights into key regulations governing Guernseys insurance industry and its impact on companies and the industrys future
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