South African institutions have a history of developing international investment policies in the form of endowments, stemming in part from an increasingly global client base. These are international insurance wrappers assisting policy holders with, amongst other things, inheritance tax and succession planning. One of the domiciles of choice for these policies is Guernsey.
In a recent Global Captive Podcast short, produced in collaboration with We Are Guernsey and the Guernsey International Insurance Association, Richard Cutcher discusses the developing role of independent non-executive directors (iNEDs) on captive boards with guests Julia Graham, Airmic CEO and iNED on three captive boards in Guernsey, Peter Child, CEO for Europe at Strategic Risk Solutions and Nick Wild, a local iNED with many years’ experience in captive management. Here, we outline some of the key takeaways from the podcast. Guernsey is currently one of the only domiciles with a requirement for a captive to have an iNED, a director with no relation to the captive manager or shareholder, in accordance with Appendix 3 of Guernsey’s Finance Sector Code of Corporate Governance.
Guernsey’s financial services industry was born in the 1970s and has grown to become the main driver of the island’s economy, employing around 40% of the working age population both directly and in supporting industries such as law and accounting. As more jurisdictions enter the financial services market, it is more important than ever that Guernsey is able to compete in a fiercely competitive global landscape. That is why the sector has its own promotional agency for financial services – Guernsey Finance.
This article was first published in the Financial Times. The 2023 Salary & Recruiting Trends report by recruitment specialist Hays found that a third of workers consider work-life balance the most crucial consideration when looking for a job. Given those statistics, it's no wonder that lifestyle factors are rising up the agenda for companies looking to set up shop in a new location.
This article was first published in the Financial Times. The 2023 Salary & Recruiting Trends report by recruitment specialist Hays found that a third of workers consider work-life balance the most crucial consideration when looking for a job. Given those statistics, it's no wonder that lifestyle factors are rising up the agenda for companies looking to set up shop in a new location.