Guernsey students compete in annual insurance industry event

The Guernsey International Insurance Association (GIIA) hosted its fourth annual ‘Insuring the Future’ event, where 60 students from five local schools competed to manage fictional insurance firms. Working in teams, students addressed a case study involving ‘Ethica’, an imaginary global shipping company considering the establishment of a captive insurance structure in Guernsey.

Participants presented proposals to representatives from the Guernsey Financial Services Commission and the global insurer Zurich. The competition concluded with two finalist teams, Green Wave and Oasis, separated by only a single point. Industry professionals, including Paul Marquand of Marsh, noted the high caliber of student engagement with complex insurance concepts.

According to the GIIA, Guernsey remains a leading captive domicile in Europe, housing captive insurance companies for 40% of FTSE 100 businesses. The event aimed to showcase the international insurance sector to local residents.