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Guernsey licenses 89 new insurance entities in 2013

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The Guernsey Financial Services Commission licensed 89 new insurance entities in 2013, it announced.

The GFSC said Monday that there were 758 international insurance entities, including cell companies, licensed in Guernsey at the end of December 2013, compared with 737 at the end of December 2012.

Of the new operations licensed during 2013, 10 were limited companies, six were protected cell companies, 63 were PCC cells, two were incorporated cell companies and eight were ICC cells, the GFSC said.

The island now has 242 limited companies, 69 PCCs, 414 PCC cells, seven ICCs and 26 ICC cells, according to the commission's data.

Guernsey was ranked the fourth-largest captive domicile in the world in Business Insurance's latest ranking.

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