Guernsey’s insurance industry has worked with the Guernsey Financial Services Commission (GFSC) to make the island a more attractive location for managing general agents (MGAs).

The island's promotional body - Guernsey Finance - has developed a close working relationship with the UK’s MGA Association over the past 18 months and, together with industry group the Guernsey International Insurance Association (GIIA), an industry working group, identified the need to clarify licence provisions and permissions for new entrants to the market in the island.

The GFSC said a new application form for MGAs mad...