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Guernsey has been named ‘best in class’ for Insurance Linked Securities (ILS) at the Professional Adviser International Fund and Product Awards 2014.
Now in their 15th year, the awards are run by Professional Adviser, a weekly trade magazine focusing on the issues facing the investment advisory market in the UK.
Guernsey Finance – the promotional agency for the Island’s finance industry – made a submission for this year’s awards.
Fiona Le Poidevin, Chief Executive of Guernsey Finance, said: “I am delighted that Guernsey has been named ‘best in class’ for ILS. It is an asset class which has gained significant momentum during the last few years and is particularly attractive to investors because returns are uncorrelated with the general financial markets.
“Guernsey’s expertise across both the investment and the insurance sectors and our proximity to London and Zurich means that we are very well placed to meet the needs of the marketplace. This is demonstrated by the substantial growth we have seen in the past few years, with 99 new international insurance entities licensed in the 12 months to the end of March, a significant number of which are related to ILS.
“I know from speaking to industry that more have come on-stream since then and we are trying to further capitalise on the opportunities by actively marketing our proposition. We want Guernsey to be top of mind for those involved in putting together ILS deals.
“It’s rewarding to get recognition for our offering, the success we are enjoying and the way we are continuing to grow ILS as a business stream in Guernsey.”
Guernsey Finance is hosting a free thought leadership event, ‘ILS Insight’, on Wednesday 2 July in Zurich from 4pm. The event is supported by news and analysis specialist Artemis.bm and insurance magazine Reactions. Event sponsors are Bedell Cristin and Aon. For further information or to book a delegate place please contact Jennifer Baudains by email jen@guernseyfinance.com or telephone +44 (0) 1481 720071.
