GIIA, Airmic host first Guernsey Captive Conference
The first GIIA and Airmic Conference was heralded a “great success” with a capacity audience of over 200 delegates attending a wide range of sessions of captive, risk financing and international risk topics and will be repeated in 2025.
Preceded by a reception the evening before, Airmic partnered with the Guernsey International Insurance Association (GIIA) to host the one-day event on 25 June 2024 and Airmic CEO Julia Graham provided the opening remarks.
The Association’s Captive Ambassador Richard Cutcher moderated a captive owner panel with Airmic members Cleo Curl, Joshua Cryer and Airmic Chair Angela Iannetta.
Julia Graham opened by discussing the four main trends dominating risk thinking; technology, weather, trade and people.
“Some of the risks are hard to apply traditional analysis techniques to and some are increasingly hard to insure by conventional means,” she said.
“Our programme today keeps these trends and risk financing needs front of mind as we focus on Positioning For The Future.”
Follwed by a keynote from Sir Richard Shirreff, NATO’s former Deputy Supreme Commander Europe, which captivated the audience covering foreign policy and geopolitics focusing on Europe the Middle East and Aisia. Sir Richard is not only an eminent military leader, but a great historian and published author.
The conference programme then featured an update on the OECD’s 15% global minimum tax guidelines and how it will impact captive business in various domiciles, a presentation from the International Federation of Red Cross and Red Crescent Societies (IFRC) alongside Aon on how the NGO had utilised a Guernsey special purpose vehicle (SPV) to secure disaster relief risk financing, as well as session on claims, parametric policies and governance.
William Lewis, Guernsey Finance’s UK Insurance Representative, said: “There was a lot of food for thought for risk, insurance and captive managers.
“Guernsey’s decades of innovative expertise and experience in the global insurance sector were centre stage, as well as the island’s strengths, robust but proportional regulation and the multitude and depth of the island’s expert supporting professionals.
“It was a hugely successful event blessed with stunning Guernsey weather too. It was Airmic’s first visit for 25 years, and we hope to see them back next year.”
It has since been confirmed that the event will return in 2025, and a confirmed date will be announced in due course.