Highlights from the Jersey International Legal Association (JILA) event, ‘The future of the islands on the global financial stage'
Last month, our Sales Development Director, Natasha Lucock, was invited to join a panel of experts at a JILA event looking into the future of the islands on the global financial stage. We caught up with Natasha to find out more about the event.
'I was delighted to be invited by the JILA to represent the insurance industry at their recent panel event. The event was incredibly well attended by largely qualified professionals from the various sectors of the finance industry, all keen to hear how the islands can work together to ensure future success.
The discussion, which was led by Joe Moynihan (Jersey Finance) and Rupert Pleasant (We are Guernsey) and a panel of 3 industry experts, saw a variety of topics, all critical to the success of the islands’ finance industries, tabled. These included the challenges we face such as staff attraction and retention against the backdrop of the islands’ high cost of living and global economic flux – a challenge many of us are all too aware of. Linked to this there was plenty of discussion around how we appeal to youngsters to encourage their return after studying off island.
Clearly the islands are well represented on the world stage and viewed as safe, regulated jurisdictions. Guernsey is now the largest captive centre in Europe and one of the world’s leaders in offering a domicile for self-insurance firms. Jersey has seen consistent growth of their funds sector confirming the attractiveness of Jersey as a leading international finance centre. I’m delighted that it was acknowledged that collaboration between the islands will be key to a successful and sustainable future, particularly with the MONEYVAL assessment underway for Jersey as we speak and for Guernsey next year. As part of one of the world’s leading insurance brokers, and part of a tri-island business, we know how collaborative working between the islands can deliver benefits that working in silos cannot.
So what did I take away from the event? Gallagher already has a strong partnership with Jersey Finance and We are Guernsey. By working with industry, we ensure that we align our products to the needs of the clients and businesses that operate in the islands – this continues to be key as we support the work of our finance industries. We will continue to innovate and draw on the global reach of our parent company to deliver ‘best in breed’ services and products. For example, we have developed an exclusive funds facility with a leading Lloyds insurer to specifically cater for alternative investment structures across Private Equity, Venture Capital and Real Estate.
Future sustainability was a key theme that was woven throughout the discussion – something we are passionate about. We’ve been operating in the islands for almost 100 years and want to bring a sustainable proposition to our clients that will ensure we will be here serving our customers for the next 100 years.'
