GUERNSEY’S ILS MARKET RECORDS STRONG GROWTH

Guernsey has seen a positive start to the year in the insurance linked securities (ILS) market, with protected cell company (PCC) activity so far this year well ahead of 2017. Guernsey saw overall net growth, including ILS, of 2.2% last year, with top line growth of 10%, according to Guernsey Finance, the body responsible for promoting Guernsey’s financial services industry. Increasing natural catastrophes are a key driver for the growth in ILS, according to the Guernsey International Insurance Association. Guernsey is currently considering whether to allow entities that combine insurance and investment activity in one vehicle, a move that could be attractive to ILS fund managers.