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Established in 1979 the BWCI Group is the largest firm of actuaries and consultants in any International Finance Centre globally. We provide a broad range of services to our clients based in the Channel Islands, the UK and internationally.
Both Guernsey and Jersey are widely respected as international finance centres with a comprehensive range of financial and investment services. They each have their own legislation and have strong but fair regulation and supervision. As a result the Channel Islands are an ideal location in which to conduct business.
COVID-19 has dominated the news since late February 2020. We are all aware of the effect it has had on our lives already: I write this piece from my home a few weeks into Guernsey’s lock down. In such a rapidly developing situation it would be irresponsible of us to attempt to draw conclusions regarding COVID-19’s impact on the insurance industry specifically. Nevertheless, while insurers prepare for the oncoming claims, it may be useful to consider what the pandemic can teach us about risk management in the context of Solvency II, how insurers could plan for similar outbreaks in the future, and whether any lessons we learn could be expanded to help insurers plan for other extreme events.Download article
The Guernsey Financial Services Commission (“GFSC”) have released the third version of the pension regulation rules; their official title is the Pension Scheme and Gratuity Scheme Rules and Guidance, 2020 (“the 2020 Rules”). When they come into force on 31 December 2020 they will supersede The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No. 2) 2017 (“the No. 2 Rules”).
Guidance notes have also been added, providing examples of how licensed fiduciaries could demonstrate compliance with the rules. These guidance notes do not form part of the rules and appear in shaded boxes to distinguish the guidance from the rules.Download article