Hopes rise for Guernsey business

Finance experts in Guernsey have predicted that more international companies could do business in the island in 2009.

Guernsey Finance said more big companies were setting up their own captive insurance companies, and running them from Guernsey.

They already include Marks and Spencer, BP and Tesco.

Guernsey Finance saw the number of these type of companies rise from 708 to 714 last year.

Captive insurance companies are created by companies to manage their own risks.

Guernsey Finance plans promotional pushes through trade magazines and seminars throughout 2009 to boost business further.

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