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Article: Guernsey count increases, despite housecleaning.(number of captives increase)(Statistical Data Included)
- Article from:
- Business Insurance
- Article date:
- February 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 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-After losing five captives in the first quarter of 2001, Europe's largest captive domicile became uncharacteristically pessimistic about its prospects for the year.
A combination of circumstances led to a turnaround of this situation, though, enabling Guernsey to finish 2001 with a return to the steady growth it had seen during the 1990s. These developments contributed to the offshore domicile achieving an net gain of 11 captives for last year, bringing its total to 369.
Guernsey's Financial Services Commission decided early last year to drop 17 captives from the 2000 year-end total because they had been inactive for a number of ...