Tag: GFSC
Guernsey named Europe’s best captive domicile
Guernsey has been crowned European captive domicile of the year at the UK Captive Services Awards 2013. The inaugural awards, which formed part of the Captive Live UK 2013 Conference that took place earlier this week, also saw a number of Guernsey-based firms recognised as winners in their respective categories. Aon, Bedell Cristin, BWCI, Igloo [...]
Guernsey licences nearly 100 international insurers in 2012
The Guernsey Financial Services Commission (GFSC) licensed 97 new international insurers during 2012. Figures from Guernsey’s financial services regulator show that there were 737 international insurers licensed in the Island at the end of December 2012. This number comprises 242 limited companies, 68 Protected Cell Companies (PCCs), 404 PCC cells, 5 Incorporated Cell Companies (ICCs) [...]
Carey Olsen advises on £270m IPO of BACIT Limited
Carey Olsen has advised the Battle Against Cancer Investment Trust (BACIT Limited) on its establishment as a Guernsey registered closed-ended investment company and its recent flotation on the Main List of the London Stock Exchange. BACIT is an innovative new investment company formed by a group of leading fund managers. It raised £270m which will [...]
Guernsey funds business continues to grow
The total value of funds business in Guernsey grew by £3.6 billion (1.3%) during the third quarter of the year. New figures from the Guernsey Financial Services Commission (GFSC) show that the third quarter increase has built on the £9.4 billion growth during the first half of the year to take the total net asset [...]
Guernsey bank deposits fall in Q3
The value of bank deposits in Guernsey declined by £6.2 billion (6%) in the third quarter of the year. The new figures from the Guernsey Financial Services Commission (GFSC) show that the total value of deposits held by banks in Guernsey fell to £96.9 billion at the end of September 2012, representing a decrease of [...]
GFSC Fiduciary Director recognised for work with Sea Cadets
The Director of Fiduciary Services at the Guernsey Financial Services Commission, Philip Nicol-Gent, has been recognised for the excellent contribution he makes as Sub-Lieutenant, (SCC) Royal Navy Reserve working with Guernsey’s Sea Cadet Corps. Mr Nicol-Gent was awarded the 2011 National Officer Selection Board trophy at a ceremony in London last month. The award, which [...]
Guernsey adds 100+ international insurers in 12 months
The Guernsey Financial Services Commission (GFSC) has licensed 107 new international insurers in the last 12 months. Figures from the Island’s financial services regulator show that there were 746 international insurers licensed in the Island at the end of September 2012 compared to 682 at the end of September 2011. In that time, there have [...]
Guernsey bank deposits up in Q2 but still down in 2012
The value of bank deposits in Guernsey grew by £2.1 billion (2.1%) in the second quarter of the year. The new figures from the Guernsey Financial Services Commission (GFSC) show that the total value of deposits held by banks in Guernsey rose to £103.1 billion at the end of June 2012. However, this represents a [...]
Guernsey funds stable during second quarter
The total value of funds business in Guernsey grew by £711 million (0.3%) during the second quarter of the year. New figures from the Guernsey Financial Services Commission (GFSC) show that the second quarter increase has built on the £9 billion growth during the first quarter of the year to take the total net asset [...]
Guernsey Financial Services Commission to consult with industry
The Chief Transformation Officer (CTO) recently appointed to the Guernsey Financial Services Commission (GFSC), Tim Loveridge, has now taken up his role. Ernst & Young’s Independent Evaluation Review (IER) of the GFSC made reference to one of the projects that was already underway; the production of an ‘extranet’ – that is electronic communication of data between licensees and [...]
