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Article: Guernsey captives expand coverage.(Spotlight)
- Article from:
- Business Insurance
- Article date:
- March 7, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SARAH VEYSEY
ST. PETER PORT, Guernsey-Captive growth slowed in Guernsey in 2004, but some existing captives at Europe's largest domicile are seeing significant increases in the retentions they fund and are expanding the types of coverages they offer, captive managers say.
Captive owners are using their Guernsey captives to cover warranty risks and captive reinsurance, and several are looking to include employee benefits risks in their captives, they say.
In 2004, 27 new captives were licensed in Guernsey, of which 19 were traditional captives and eight protected cell captive companies-with 52 cells, according to the Insurance Division of ...