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Article: Guernsey: PCCs remain key part of Guernsey growth.
- Article from:
- Business Insurance
- Article date:
- April 30, 2001
- Author:
CopyrightCOPYRIGHT 2001 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-Europe's largest captive domicile grew again in 2000, but for once, Guernsey's perpetually optimistic captive regulator is not as confident as its captive managers that growth will be maintained this year.
At the end of 2000, Guernsey had 375 captives, up 11 from 364 in 1999.
The Financial Services Commission estimates total premium volume of these captives was around L2.03 billion ($3.03 billion) at the end of 2000, compared with L1.85 billion ($2.98 billion) in 1999. Premiums in 1999 were less than had been estimated last year.
Assets of these captives at the end of 2000 increased to L9.63 billion ($14.37 billion) ...