While Paris and Frankfurt have been touted as potential new centres of the European insurance industry after the UK voted to leave the European Union, a new contender has made itself known.
reports Guernsey States has commissioned a review into the insurance sector, pushing for the island to become a bigger player in the field. A team of people from the local industry will undertake the investigation to make sure Guernsey is able to take advantage of potential growth opportunities in the coming years.
“This collective piece of work will highlight the potential this sector has and, in particular, what Guernsey needs to address to ensure we are well placed to take advantage of and become an even more important player in this space in years to come,” said Deputy Peter Ferbrache, president of the committee of economic development.
Guernsey is not a member of the European Union, but is part of the EU’s customs territory which allows for the free movement of goods.
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