istock.com / georgeclerk
Guernsey Finance chief executive Dominic Wheatley reveals how its special purpose insurer rules refine and evolve Guernsey’s ILS offering.
This year marks 20 years since Guernsey introduced the protected cell company (PCC) to the world for use in the captive insurance sector.
The success of this innovation is illustrated by the fact it is now used across financial services as an alternative application for the structuring of many different types of products, including insurance-linked securities (ILS).
For example, Aon’s White Rock Insurance Company PCC Limited was established in Guernsey as the world’s first PCC and been used by more than 100 corporations as a cell captive facility and grown to be the largest structure of its kind globally.
Guernsey, ILS, Dominic, Wheatley, insurance linked securities, approach