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Guernsey captive numbers slip slightly in 2006


St. Peter Port, GUERNSEY — The captive population in Guernsey slipped slightly in 2006 while the total number of protected cells inched up, according to the Guernsey Financial Services Commission.

There were 15 new captives incorporated in the domicile last year, while 18 gave up their licenses, leaving 312, or three fewer than in 2005. Protected cell company formations numbered four in 2006, with three leaving the domicile. Guernsey has 68 PCCs and one incorporated cell company.

New rules were introduced in Guernsey last year to allow the formation of incorporated cell companies, a structure under which cells are legal companies in their own right.

The domicile's biggest growth came in new cell formation within the PCCs, with 31 incorporating in 2006. Twenty-seven, though, surrendered their licenses, leaving 243 cells active in Guernsey.