Guernsey accounts for around 50 per cent of the UK captive market, followed by Isle of Man (21 per cent), Bermuda (15 per cent) and Ireland (8 per cent), according to a new report from insurance broking giant Marsh. The report shows that when Marsh conducted similar research in 1995, 42 per cent of captives with UK parents were domiciled in Guernsey. At that time the market was dominated by Guernsey, Bermuda and the Isle of Man. Since then, Gibraltar has remained relatively consistent in terms of its market share, Dublin has seen strong growth and Guernsey has experienced growth of 20 per cent, with its gain in the market share largely at the expense of the Isle of Man. While Bermuda’s attraction has remained for its existing client base, new captive owners have opted not to establish there primarily because the same captive benefits are available much closer to home. “This report illustrates that Guernsey is very much the UK’s captive domicile of choice,” said Peter Niven, chief executive of GuernseyFinance.