Regulatory Alerts2020-11-23
Policy Statement on Insurance Group Wide Supervision
The Guernsey Financial Services Commission states it will not assume the role of Group Wide Supervisor for insurance groups due to resource constraints and cost considerations. The Commission requires confirmation of good standing from home regulators for subsidiary applicants and seeks scope details from Group Wide Supervisors for group members. Additionally, the Commission commits to cooperating with other supervisors through information sharing and participation in supervisory colleges under statutory disclosure provisions.
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