The International Stock Exchange (TISE) has announced a record turnover for the first half of 2023. The Guernsey headquartered stock exchange has overcome macro-economic headwinds to post a £5.2 million turnover and after tax profits of £2.
In early September 2023, business leaders from Guernsey's financial sector assembled in Cape Town to rekindle ties with South African businesses and with sport for development programme CoolPlay. A team from Guernsey Finance, along with 20 delegates from the island, were back in Cape Town to promote Guernsey’s financial services sector, and to raise further funds for CoolPlay after a successful inaugural visit in 2022.Let the children play Over R400K was raised for CoolPlay, which uses sport as the foundation through which to deliver valuable life-skills based on a specially crafted Social and Emotional Learning Curriculum, developed by child psychologist, Linda Bruce.
The fringe events for this year’s Sustainable Finance Week have been announced, with 14 sessions set to take place between Tuesday 19th and Friday 22nd September. This year’s fringe schedule features topics which range from discussions on impact investment, balancing profit with sustainability and ESG, to a behind-the-scenes tour of Guernsey’s power station. A variety of organisations are taking part, including the Guernsey Branch of the Institute of Directors, Guernsey International Insurance Association, Guernsey Chamber of Commerce and many more.
The risks presented by the current hard market, cyber risks, and potential opportunities for innovation were discussed at Guernsey Finance’s Reinsurance masterclass, titled Opportunities for capital in a disrupted reinsurance market. Stagflation and increasing rates in recent years have forced the insurance industry to find new and innovative ways to increase capital. Victoria Carter, Chairman of International Global Capital Solutions at Guy Carpenter and Deputy Chair of Lloyd’s, said this is ‘the most exciting’ market she has seen.
Europe’s first Bitcoin exchange traded fund (“ETF”) has listed on Euronext Amsterdam, trading under the ticker BCOIN. Jacobi FT Wilshire Bitcoin ETF, a sub-fund of Jacobi Investment Funds PCC Limited, was authorised as an open-ended “B” Scheme fund by the Guernsey Financial Services Commission in October 2021. The fund is Guernsey’s first regulated Bitcoin fund and its first ETF.