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Article: Guernsey still adding captives at a record pace.(Captive Report: Guernsey)
- Article from:
- Business Insurance
- Article date:
- April 14, 1997
- Author:
CopyrightCOPYRIGHT 1997 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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ST. PETER PORT, Guernsey - Guernsey's continued push for geographic expansion and legislation allowing a new insurance vehicle could further fuel its captive growth engine, which remains in high gear.
Another law that took effect this year makes it easier for captives to enter and leave Guernsey.
Steve Butterworth, Guernsey's superintendent for financial services, predicted a year ago that captive growth would slow and Guernsey would license 20 captives in 1996. The domicile actually added a Guernsey record 40 new captives to its roster last year.
This total quashed Mr. Butterworth's assessment of a year ago that Guernsey probably would cease to be ...