News

Guernsey’s specialist financial services sector is celebrating yet another world first that will fortify its global reputation as a leader in sustainable finance. Guernsey’s Financial Services Commission has published two consultation papers proposing the introduction of what could be the world’s first Natural Capital Fund regime accompanied by further guidance to guard against greenwashing.   Once introduced, the regime will build on the success of Guernsey’s world-leading position in sustainable finance by creating a fund regime to help channel investment into biodiversity and natural capital projects.

Guernsey has long been regarded as a valuable financial services market for the United States in investment funds, insurance and private wealth. Guernsey Finance, the promotional agency for the island’s financial services industry, today announces the appointment of a dedicated representative for the country. Jonathan Gamble is an independent consultant and non-executive director who works with a number of firms in the wealth management and fiduciary industry.

Giving away sums of wealth to benefit worthy causes is more popular than ever and specialist financial services centres such as Guernsey are pivotal to facilitating this. There are a range of versatile and innovative structures available via Guernsey providers for modern day philanthropists supported by highly knowledgeable service providers. To demonstrate this, Guernsey Finance, the promotional agency for Guernsey’s financial services sector, is hosting a seminar on 28 April in London.

Guernsey’s Private Investment Fund (PIF) regime was originally introduced at the end of 2016 as a simple and cost-efficient route to market for managers with close relationships to smaller numbers of sophisticated investors. They have increased in popularity each year since and at the end of last year more than £14bn was invested in Guernsey PIFs. In this article, Henry Freeman, Strategic Adviser to We Are Guernsey and a non-executive director to investment funds, looks at what they are, how they are used and recent rule changes which have increased their popularity further.

The international finance centre of Guernsey this year celebrates a centenary of captive insurance. In June 1922, the Commercial Insurance Company Limited (CICL) was established and listed with the Guernsey Registry as the island’s first ever captive vehicle. Since then, Guernsey has grown into Europe’s number one captive insurance domicile, with more than 300 structures based in the island.