How do I apply for a licence to write insurance business?
Applications can be made on the Applications portal. Further details of how to apply for a licence to write insurance business are found in the New Applicants and the Insurance Application pages of our website.
How do I apply for a licence to be an insurance manager or insurance intermediary?
Details of how to apply for a licence to conduct business as an insurance manager or insurance intermediary are found in the New Applicants and the Insurance Application pages of our website.
Can you recommend a particular insurance manager to manage my captive insurance company or a particular insurance intermediary?
The Commission is the regulatory body for the financial services sector in the Bailiwick of Guernsey and is therefore not in a position to recommend the services of a particular licensee. Please refer to the Regulated Entities page of this website for a list of insurance managers and insurance intermediaries licensed to conduct business in or from within the Bailiwick of Guernsey.
What is the minimum capital requirement for an insurance manager / insurance intermediary licensed in Guernsey?
Please refer to the Minimum Capital Requirement for Licensed Insurance Managers and Licensed Insurance Intermediaries for guidance.
How do I request incorporation consent for a PCC or an ICC?
Incorporation of a PCC or an ICC in the Bailiwick requires written consent from the Commission, pursuant to Sections 438 and 469 of The Companies (Guernsey) Law 2008, respectively. This is also the case when the PCC or ICC is not going to be carrying out regulated financial activities.
When considering whether it is appropriate for a PCC or an ICC to be incorporated, the Commission must have regard to protection of the public interest. This includes the need to:
- Protect the public, in Guernsey and elsewhere, against the effects of dishonesty, incompetence, and malpractice
- Counter financial crime and the financing of terrorism in Guernsey and elsewhere, and
- Protect and enhance the reputation of the Bailiwick as a financial centre.
A written request for consent to incorporate should be sent to [email protected]. The submission must include details of all the directors and beneficial owners of the proposed PCC/ICC, together with a high-level business plan for the structure. The latter should include details of all related entities and service providers.
An application fee must accompany any request for consent to incorporate when the PCC/ICC will not be directly regulated by the Commission.