Recognised Insurers, Including Authorised Motor Insurers

Recognised Insurers

Under Section 17 of The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, as amended, a licensed insurance intermediary (or licensed insurance manager if applicable) “shall not arrange or attempt to arrange a contract of insurance between a client who is a member of the public (in the Bailiwick or elsewhere) and any person other than a recognised insurer.”

The term "recognised insurer" is defined in Schedule 3 of The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, as amended as:  

  1. Any person who is licensed as an insurer under The Insurance Business (Bailiwick of Guernsey) Law, 2002  in respect of the description of insurance business concerned;

  2. Any person who is entitled to carry on the description of insurance business concerned in or from within the Bailiwick without being licensed as an insurer under The Insurance Business (Bailiwick of Guernsey) Law, 2002 by virtue of section 5 of that Law;

  3. Any other insurer for the time being included (specifically or by description) in a list of recognised insurers maintained and published by the Commission. 

With regard to (1) above, the insurer’s home jurisdiction is Guernsey and therefore these entities are licensed and supervised by the Commission itself.  With regard to (2) above, these entities are not licensed insurers but are able to carry on certain types of insurance business as described in Section 5 of the Law. Point (3) above relates to overseas insurers who licensed insurance intermediaries may use to underwrite Bailiwick of Guernsey risks but who do not otherwise carry on business as an insurer in the Bailiwick and are therefore not licensed by the Commission.

In carrying out its functions the Commission may have regard to the protection of the public interest, including the protection of the public against financial loss due to dishonesty, incompetence or malpractice by persons carrying on finance business.  Restricting insurance intermediaries to using recognised insurers allows the Commission to make sure that the public interest is protected by ensuring insurance intermediaries only place business with appropriate insurers.  As the insurers on the list are not licensed by the Commission, it is not responsible for their supervision and relies on the home supervisory authority.

The general policy of the Commission is to include insurers on the list by description rather than individually.  In considering which insurers should be included in the list, the Commission will consider the following factors (this list is not exhaustive): 
  • Whether the home supervisory regime provides adequate protection to policyholders (including policyholders in the Bailiwick)

  • Whether the home jurisdiction has a policyholder protection scheme (which includes protection for policyholders in the Bailiwick)

  • Assessments of the home supervisory regime by international bodies, for example, the International Monetary Fund 

For the avoidance of doubt, recognition is solely in respect of the classes of insurance business for which relevant authorisation is held with the home supervisory authority.
With regard to (3) above, all insurers authorised by the relevant supervisory authority in the following countries or territories can be considered to be included in the list of recognised insurers:

Expand for Recognised Insurers list

  • Austria
  • Belgium
  • Denmark
  • Finland
  • France
  • Germany
  • Gibraltar
  • Greece
  • Iceland
  • Isle of Man
  • Italy
  • Liechtenstein
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Portugal
  • Republic of Ireland
  • Spain
  • Sweden
  • United Kingdom

Any overseas insurers not included in the list by description and any overseas insurers wishing to write compulsory Bailiwick of Guernsey risks (see below), are required to submit a notification form to the Commission which includes details of the home supervisory authority, a description of the insurance business to be written in Guernsey, and details of the Guernsey licensed insurance intermediaries to be used.  Upon receipt of this form, the Commission will carry out an assessment, including the factors listed above, to ensure that it is appropriate to include the insurer on the list.

Authorised motor insurers

Specific authorisation is required for any recognised insurer wishing to provide third party motor insurance to Bailiwick of Guernsey residents under The Road Traffic (Compulsory Third-Party Insurance) (Guernsey) Laws, 1936 to 1983 and The Road Traffic (Compulsory Third-Party Insurance) (Alderney) Law, 1950, as amended.  Any such insurers must submit a Motor Insurance Application Form to the Commission. Applicants must be members of the Motor Insurers’ Bureau in the UK (“the MIB”) and are required to provide an address in the Bailiwick of Guernsey for the service of documents. All Bailiwick of Guernsey residents insuring motor vehicles for use in the Bailiwick are required to hold motor insurance underwritten by an Authorised Motor Insurer and to display evidence of this on their motor vehicles in the form of a Windscreen Insurance Disc (“WID”). 

Expand for current Authorised Motor Insurers list

  • Accredited Insurance (Europe) Limited
  • Acromas Insurance Company Limited
  • Admiral Insurance (Gibraltar) Limited
  • Admiral Insurance Company Ltd
  • Ageas Insurance Limited
  • AIG Europe Limited
  • Aioi Nissay Dowa Insurance Company of Europe SE
  • Aioi Nissay Dowa Insurance UK Limited
  • Allianz  Insurance plc
  • American International Group UK Limited
  • Aviva Insurance Limited
  • Avon Insurance Plc
  • Axa Insurance UK Plc
  • AXA XL Insurance Company UK Limited
  • Chubb European Group SE
  • Great Lakes Insurance UK Limited
  • Great Lakes Reinsurance (UK) Plc
  • Highway Insurance Company Ltd
  • Insurance Corporation of the Channel Islands Limited
  • IQUW_ERS (Equity Red Star)
  • Liverpool Victoria Insurance Company Limited
  • Markerstudy Insurance Company Limited
  • MS Amlin Underwriting Limited
  • National Farmers' Union Mutual Insurance Society Limited
  • QBE UK Limited
  • QIC Europe Limited
  • Royal & Sun Alliance Insurance plc
  • Sabre Insurance Company Limited
  • Southern Rock Insurance Company Limited
  • Tesco Underwriting Limited
  • Tradex Insurance Company Limited
  • Trinity Lane Insurance Company Limited
  • U K Insurance Limited
  • West Bay Insurance Plc
  • Zurich Insurance Company Ltd (UK Branch)
  • Zurich Insurance plc


Other compulsory Bailiwick of Guernsey risks

Specific authorisation is also required for any recognised insurer wishing to provide insurance under any of the following laws: 

  • The Surf Riding (Longboards) (Compulsory Third-Party Insurance) (Guernsey) Law, 1969

  • The Vessels and Speedboats (Compulsory Third-Party Insurance, Mooring Charges and Removal of Boats) (Guernsey) Law, 1972

  • The Steam Boilers (Insurance) Ordinance, 1952