Guernsey's decades of expertise and dominance in the global insurance services sector were highlighted at the very first jointly organised conference by Airmic, the
The day-long conference featured a packed schedule of sessions covering subjects such as disaster relief financing, parametric insurance and the future of reinsurance markets.
Titled 'Positioning for the future,' the day began with a keynote address from General
"The key is not looking at risk in silos, it's looking comprehensively and understanding the relationship between risks," he said.
In his welcome address on behalf of the Government of Guernsey, Deputy
"Guernsey is
The nexus between humanitarian needs and the private sector was discussed in a session on disaster relief financing.
Petra said: "Humanitarian needs are rising, and this means a changing risk landscape.
"Getting funding from global to local is incredibly difficult and one of the biggest gaps that we're facing.
"Investment in resilience is smart. We are increasingly looking to the private sector as a source of knowledge, skills, tools, expertise."
In 2023, a pooled fund for small and medium sized disasters was established through a Guernsey regulated insurer. The IFRC DREF insurance (
Petra added: "We're really hopeful that this is a new way of financing humanitarian action."
Emma stressed the importance of shifting the dialogue around humanitarian funding from philanthropy and donation to a business investment.
She said: "Insurance is not there to replace donor funding. It's there to manage volatility."
In terms of a supportive environment, Mike said that Guernsey's regulator, the
"You need to have confidence in the regulator in the territory that you're in to make sure there is a robust framework and an element of certainty around regulatory approval times."
In another breakout session titled 'Metamorphosis: corporate structures that support risk transfer,'
She complimented the island's strengths in risk financing, cost savings, flexible regulatory and corporate regimes, robust but proportional regulation, and decades of experience.
The session saw Kate, alongside
"Guernsey is an internationally recognised centre of finance and associated knowledge and expertise, including in the area of captives and associated risk financing solutions."
She thanked all the speakers, whom she described as being of 'exceptional calibre' and summed up the day by saying: "I have had some amazing feedback from people today, including someone saying that this conference was long overdue.
"Guernsey is front and centre of the global captive industry and as corporates look to their risk divisions to help them build resilient strategy, the captive becomes one of the mainstream tools at their disposal."
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