The Company is licensed and regulated in Guernsey by the Guernsey Financial Services Commission.
The primary pieces of legislation that apply to the Company are:
- The Companies (Guernsey) Law 2008
- The Insurance Business (Bailiwick of Guernsey) Law, 2002 ("the Insurance Law")
- The Insurance Business Rules and Guidance 2021
- The Insurance Business (Solvency) Rules and Guidance 2021
- Finance Sector Code of Corporate Governance ("the CCG") Amended 10 June 2021
- The Income Tax (Substance Requirements) (Guernsey) (Amendment) Ordinance, 2018
- The Data Protection (Bailiwick of Guernsey) Law, 2017
- The Cyber Security Rules and Guidance 2021 (under “Regulatory Laws”)
The Company and its Board is subject to the Finance Sector Code of Corporate Governance (“the Code”). Appendix 3 of which is applicable to Licensed Insurers and is consistent with the core principles of the International Association of Insurance Supervisors.
The Board is required to have, on an ongoing basis, an appropriate number and mix of individuals to ensure that there is an overall adequate level of knowledge, skills and expertise at the Board level commensurate with the governance structure and the nature, scale and complexity of the Company’s business.
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