HONG KONG, October 12, 2016 /PR Newswire/ -- Guernsey will hold its first insurance expert workshop in Hong Kong on November 4, 2016.
As Europe's leading captive insurance center, Guernsey enjoys a strong reputation in the Western world and will now share its experience with Asian professionals. The workshop follows the signing of memoranda of understanding (MoUs) between Guernsey representatives, the China Captive Alliance and the Kashgar municipal government in June this year. To accelerate captive insurance market development plans, international exchanges, financial innovation and information sharing among the cooperating parties, the two agreements set out declarations of intent.
The Guernsey Hong Kong expert workshop will take place at the PwC Executive Conference Centre in Central, Hong Kong, and will feature two panel discussions—one focusing on captive insurance and the other on employee benefit trusts (EBTs)—exploring the risk management implications of global innovation and development in these two areas.
Dominic Wheatley, chief executive of Guernsey Finance, said: "Guernsey is Europe's number one captive insurance center and is now well prepared to share the expertise gained from more than 50 years of providing financial services. Asia's growing captive insurance industry can learn a great deal from Guernsey in this regard, and we hope this event will provide guidance and insight on how Asian enterprises can make the best possible use of captive insurers."
"As Asia increasingly adopts international management practices, understanding of the economic efficiency of insurance and the financial efficiency of formal risk management, risk transfer and risk financing models will deepen."
The event is expected to attract insurance managers, risk managers, human resources directors, chief financial officers, lawyers and accountants doing business in Hong Kong or Asia.
The first panel will explore the benefits of employee benefit trusts, how such trusts meet the diverse needs of multinational and internationally mobile employees, and Guernsey's role in international employee benefits. The second panel will explore the various benefits captive insurers can bring, the challenges associated with international captive programs, the localization of captives within Asia, and Guernsey's positioning as a leading captive insurance center.
The two panels will be moderated by Nick Griffin, commercial director of Generali Worldwide, and Dr. Andy Sloan, director of financial stability and international policy at the Guernsey Financial Services Commission. Panelists include Charne Van Biljon, associate legal counsel at Sovereign Group; Pasquale Gorrasi, employee benefits director at Generali; Caroline Bradley, deputy director of banking and insurance at the Guernsey Financial Services Commission; Geoffrey Cao (Cao Zhihong), executive director of China Captive Network; Charles Scott, managing director of ARM; and Rex Ho, partner at PwC.
The workshop is sponsored by ARM and Generali. Interested parties are invited to register from 4:30 p.m. on November 4, 2016, and the event will begin at 5:00 p.m. that day.
For details or to reserve a delegate place, please visit the event website, or contact Vicky Richardson by email: vicky@weareguernsey.com, or by phone: +44-(0)-1481-720071.
It is understood that Guernsey Finance is the promotional agency responsible for publicizing Guernsey's financial industry worldwide. Guernsey established a representative office in Hong Kong earlier this year. Located in Three Pacific Place, Admiralty, the office currently serves as the base for Guernsey Finance to further carry out promotional activities focused on the broader Southeast Asian market. Meanwhile, the Guernsey Financial Services Commission also uses the office to provide regulatory advice to practitioners in Asia who may be interested in specific Guernsey investment projects.
Source: PR Newswire (Asia) October 12, 2016