Guernsey is the most important jurisdiction for captive insurance in Europe. At Babbé LLP, we represent a significant number of the insurance companies and managers based in the Island, providing them with a full range of services.
We have been closely involved in the latest developments in modern protected cell company legislation, and our lawyers have extensive experience of the London insurance market and of global insurance and reinsurance matters generally.
We advise on the formation, migration and conversion of captive insurers (protected cell, incorporated cell and standard companies) and assist with all regulatory matters.
- Establishing PCC's and ICC's
- Acquisitions, mergers and disposals of insurance entities
- Captive insurance – establishment
- Professional negligence claims
- Advising on legal and regulatory matters
- Policy drafting and contracts
- Providing board members – particularly to captives
We recently acted for a captive insurer in relation to regulatory issues and litigation brought against it in the Commercial Court.
We dealt with the Guernsey Financial Services Commission on behalf of a regulated insurer whose licence to write new business was under threat.
We advised UBS, Credit Suisse and BNP Paribas (as underwriters) in relation to the Guernsey aspects of Swiss Re's acquisition of GE Insurance Solutions.
We advised Axa in relation to the Guernsey aspects of its acquisition of Winterthur.
We acted for Cable & Wireless and Pender, in their highly publicised claim against Messenger, a Guernsey protected cell company insurer. This is the first case anywhere in the world where a freezing injunction has been successfully obtained against all the cells of a PCC.
We regularly provide directors to sit on the boards of insurance companies.