Licences are issued under The Insurance Business (Bailiwick of Guernsey) Law, 2002, as amended.
Insurance Managers and Insurance Intermediaries (including Managing General Agents (MGA))
Licences are issued under The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law 2002, as amended.
Applicants must review the scope and application of the laws to assess which insurance licence is applicable to their business in order to submit the relevant application pack.
Associated legislation, codes and guidance
Applicants are advised that further relevant inofrmation can be accessed from 'Legislation and Guidance' in the Insurance Supervision section of our website.
Applicable insurance services
Licensees may either write:
General insurance business: Non-life;
Long term insurance business: Life.
Insurance Managers and Insurance Intermediaries
Are classified as follows:
Managers (including MGAs): Are licensees which exercise, in relation to any insurer (of which they are not an employee), managerial functions including administration and underwriting;
Intermediaries: Are licensees other than an insurance representative which by way of business:
Advise clients on their insurance requirements; and/or arrange contracts of insurance between insurers and clients including advising clients on the merits of buying, selling, lapsing, switching, cancelling, altering or converting a policy of insurance.