Insurance Corporation was established by Peter Walpole in 1982
with a share capital of £500,000. Within 18 months Insurance
Corporation had won the States of Guernsey business, and later
added the States of Jersey and Alderney accounts, all of which we
still hold, alongside the business of many of the Islands' leading
companies and organisations.
The Channel Islands presented an ideal environment in which to
set up the business. Until then, insurers tended to treat the
island as just another English county and so the island's brokers
had no local insurer to whom they could look. Insurance
Corporation was able to offer a local service providing policies
and premiums geared purely towards the local risk environment,
rather than that in the UK.
One of our underlying beliefs was that, on the political and
regulatory fronts, there was less bureaucracy and more
encouragement for the entrepreneurs in the Channel Islands than in
the UK, enabling Insurance Corporation to quickly produce more
innovative and flexible products.
In 1985, now with a team of 10, Insurance Corporation was
granted a permit to operate in Jersey. A year later, the
Company was sold to Royal Insurance plc and today continues to
operate as an autonomous subsidiary of RSA Insurance Group
plc. Since then the local, domestic insurance business of
Royal Insurance, Sun Alliance Insurance and Generali have been
integrated into our portfolio.
2011 sees Insurance Corporation based at Dixcart House, St Peter
Port and with an underwriting room in Queen Street, St Helier. We
have evolved into the Channel Islands' leading insurer with over
thirty thousand policyholders and insuring a wide range of risks
from houses, cars and yachts to department stores, power stations,
farms and ferries. To maintain this position, we place a high
emphasis on our 40 strong staff attaining professional
qualifications.
