Insurance

Guernsey adopts new Terrorist Asset-Freezing Law. A link to the States of Guernsey media release can be found at www.gov.gg .

The Commission has written to financial services businesses in connection with Eurozone risk management. The Commission has noted that continuing action by governments in the Eurozone might not achieve the desired effect of improving financial stability. One or more Eurozone members may exit from Euro currency union, and reversion to local currencies is possible. Accordingly, the Commission has...

​On 28 of November the Commission issued: Instruction (Number 15) for Financial Services Businesses and Instruction (Number 13) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources, see the Instructions page on this website.

​On 22nd of November the Commission issued the following instructions in relation to Iran: Instruction (Number 14) for Financial Services Businesses and Instruction (Number 12) for Prescribed Businesses

​ The Commission has today issued the Finance Sector Code of Corporate Governance. A copy of the press release and the Code can be found below: Press release Code of Corporate Governance

Mr Nicpon was a director and shareholder of International Alliance Insurance Limited, which was placed into compulsory liquidation on 4 April 2006 by the Royal Court on application by the Commission. International Alliance Insurance Limited was not licensed under The Insurance Business (Bailiwick of Guernsey) Law, 2002 (“the Law”) to undertake insurance business in or from within Guernsey. In 2005...

​ THE Guernsey Financial Services Commission has promoted Caroline Bradley to Deputy Director of the Insurance Division. Mrs Bradley joined the GFSC in 2008 after a long career in insurance. Having started out as a graduate trainee with a major UK insurer, she specialised as a loss adjuster, then, on moving to Guernsey, she spent 13 years working in captive management dealing with all types of...

The Guernsey Financial Services Commission and Germany’s banking, insurance and securities regulator, BaFin, have signed a Memorandum of Understanding (MoU), which provides a framework for enhanced cooperation between the two supervisory authorities. The MoU has been signed in the spirit of mutual cooperation and information exchange seen as crucial by the G20 countries and international standard...

The Insurance Business (Approved Assets) Regulations, 2008 (“the Approved Asset Regulations”) The Commission confirms that US Government debt securities, despite the downgrading from AAA to AA+ by S&P, may continue to be treated as class 1 assets for solvency purposes whilst they remain rated AAA by Fitch and Aaa by Moody’s. Fitch Ratings and Moody’s Investors Service are included on the...