The purpose of GIIA is to ensure that Guernsey remains Europe’s leading offshore centre for insurance and alternative risk transfer.
Your membership helps to fund the work of GIIA, provides access to important information, allows your opinion to help shape its strategies and provides learning opportunities for members. GIIA welcomes you to join our credible and ambitious Association.
Island’s Insurance Industry Voice
GIIA’s Main Committee, Regulatory and Technical Committee and Market Development Committee, together with its network of sub-sector specific working groups, are made up of industry professionals. GIIA provides a hub for innovation and discussion, a place to nurture and develop ideas and a mechanism to achieve them.
GIIA is a lobbying body and is an integral part of ensuring the voices of the Guernsey Insurance Industry are heard by the local Government, International bodies, and Regulators. We also campaign for the development of Guernsey’s insurance regulations.
The Association works to promote Guernsey’s insurance industry and, in partnership with We Are Guernsey, contributes to webinars, events, literature content development, adverts and paid content.
For non-executive directors the benefits of being a member include CPD, socialising with other members and access to the GIIA Private Cloud (a professional IT infrastructure designed specifically for NEDs).
Key Achievements of GIIA
• Creation of the World’s first ESG Framework
• Support for members in tackling ESG opportunities and risks
• Instigated a full review of the Insurance Industry, alongside the States of Guernsey in 2018, spearheading the implementation of recommendations and a further review in 2021.
• Representation of insurance within the wider financial services industry and a seat on GIBA
• Formation of the Insurance Development Forum offering training to industry professionals
• Successful lobbying of the GFSC for:
o The pre-authorisation pilot for cell captives
o Limits on regulatory fee increases
o Appropriate dispensations to Public Disclosure Rules for Insurers
o Creation of SPI Regulations and ILS Guidance
• Working with the GSCCA to create the concept of the derogation under UK Accounting Standards
Annual Membership Fees
£225 for insurers
£75 for non-executive directors
These fees are an investment into not only the GIIA, but the future of the Insurance Industry in Guernsey