To make the most of Anguilla’s position as the fifth largest captive insurance jurisdiction in the World, Anguilla Finance Limited, in coordination with the International Center for Captive Insurance Education (ICCIE), has created a programme specifically for Anguilla that will provide financial services professionals with the highly respected ‘Associate in Captive Insurance (ACI) designation’. The ACI designation is a market leading and internationally recognised professional qualification.
For the course, that started on the 9th January, there are seventeen candidates registered from Anguilla, the highest number of candidates ever enrolled from one country. Nine are from the private sector and eight from the Financial Services Commission, who regulate all captive insurance companies.
Whilst the core educational aspects of the course will be provided by the ICCIE, Anguilla Finance will provide a substantial series of study groups and a mentor scheme, in coordination with Artex Risk Management, one of the world’s leading captive insurance managers and Anguilla’s largest service provider.
Steve Garlick, Chief Executive Officer of Anguilla Finance, commented, “Anguilla has, for far too long, not made the best use of its position and reputation as one of the leading places to set up a captive insurance company. Whilst we should be proud of Anguilla’s position as a jurisdiction, it’s great that service providers here on island now recognise that they should be fully involved in the industry and wish to generate revenues for themselves and the island.
The Financial Services Commission has historically been the main recipient of revenues, with the Government and local service providers gaining modestly, but, with this qualification, the world of opportunity opens up substantially to gain financially.
To compete with the likes of Bermuda, Vermont, Cayman and Guernsey, the top four, we need to show that we have the infrastructure, education and professionalism to deal at the highest level with clients worldwide. This course will go a significant way to giving us that ability.
I foresee that, in the future, Anguilla will be seen as the centre of excellence in all aspects of the creation of captives and that the monies coming in to Anguilla and the inherent career opportunities for Anguillians will increase accordingly.
I wish all the students the best and applaud their endeavours and determination”.
Her Excellency The Governor, Christina Scott added, “I am delighted to support the endeavours of all the candidates and wish them success with this course. It’s vitally important for the future of the financial services industry here on the island that we all do what we can to ensure the professionalism and regulation is of the highest standards. Only by reaching and sustaining these standards will we continue to be attractive to clients worldwide.
Captive insurance is now a key part of the industry and has the potential to give Anguilla much needed income and employment opportunities going forward. We should be proud of our position in the world rankings for this product, and, with more professionally qualified people on the island, we will, no doubt, go from strength to strength.
I would also like to take the opportunity to congratulate Anguilla Finance Limited for putting the programme together for the benefit of the industry and the Island.”
From Anguilla Finance
– Press Release
(Published without editing by The Anguillian newspaper.)
