Guernsey is a leading international finance centre with the highest reputation and standards, providing an extensive range of financial services to a global market.

The Island’s financial services sector is based on a balanced range of providers broadly comprising: banking, investment funds, insurance and fiduciary services (trust and company administration).

Banks have played a key role in the development of Guernsey as a top tier international finance centre. The first merchant bank was established in 1963 and today there are 50 licensed banks providing a range of services from retail banking and savings through international wealth management to institutional business. Importantly, they service the other financial services sectors on the Island. As of the end of 2006 deposits held by Guernsey banks had reached a new high of more than £92bn. – an increase of 14.4% year on year.

At the same time the overall value of funds under management and administration in Guernsey also reached a new high in excess of £130bn. – up more than 30% in twelve months. The Island plays host to an extensive array of investment businesses, including a significant number of fund managers, custodians and administrators, who in combination offer a range of products and services for both retail and institutional investors from the general to the more specialised.

Guernsey has an insurance industry that is world renowned for its innovation and professionalism. Since the first captive insurance company was formed in Guernsey in 1922 the Island has become the leading captive insurance domicile in Europe with over 600 captive entities and is in the top four in the world in terms of premiums written (£3.2bn).

The Island is also a leading international fiduciary centre with 50 years experience of supplying trust and corporate services. Guernsey plays host to some 140 licensed trust companies, ranging from large organisations to independent, boutique operations, holding some £200bn of assets in trust. A network of legal, tax, accounting, investment and actuarial support services support these sectors, which operate to international standards under the robust yet pragmatic regulation of the Guernsey Financial Services Commission (GFSC). The Channel Islands Stock Exchange (CISX) has experienced considerable growth since it was established in Guernsey in 1998 and – recognised for its speed, consistency and competitive pricing – now has more than 1,600 listings. Guernsey has a skilled, experienced and highly motivated on-Island workforce. In addition to in-house training the finance industry provides training for its staff through the Guernsey Training Agency (GTA), which has been accredited university status. To find everything you need to know about the Finance Industry in Guernsey, visit www.guernseyfinance.com.

Peter Niven - Chief Executive of GuernseyFinance