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19th of May 2013

‘Guernsey captive net-loss due to flat market’

Vicky Beckett 26/10/2012

A flat captive market was blamed for Guernsey’s lack in captive and protected cell company (PCC) growth in the last twelve months.
 
The domicile saw  a net-loss of nine pure captives in the last twelve months and 80% of Guernsey’s protected cell growth was due to just two JLT-owned PCCs.
 
Mike Poulding, director of the Poulding Consultancy, said: “Worldwide captive numbers are falling. Larger captives are probably domiciling in the EU to benefit from direct writing into Europe.
 
“The underlying market is fairly flat. It’s nothing very unusual. It’s a trend to have more cells and less pure captives.
 
This news comes in the same week it was reported European companies owning captives have increased by 4% between 2010 and 2012.

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