Insurance broker Willis Group Holdings has been granted a full commercial lines license to conduct insurance intermediary services in Guernsey.
Already licensed by the Guernsey Financial Services Commission (GFSC) to carry out captive insurance management services, Willis is the first London-based broker specialising in financial institution, professional indemnity and directors’ and officers’ liability solutions to have both a Guernsey license and a full-time local representative in the Channel Islands.
“Guernsey is an important financial centre for many of our clients and it is critical that Willis is properly represented on the island”, said chairman of Willis FINEX Global Roland Avery.
Channel Islands practice leader James Baird added: “A number of our clients are conduits for facilitating insurance for other regulated entities. By using Willis, they are engaging with an organisation which is fully licensed by the GFSC.”
The license was granted under the Insurance Managers and Insurance Intermediaries Bailiwick of Guernsey Law 2002.
Willis Group, commercial lines license, Guernsey, GFSC