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Isle of Man announced as 'Best International Financial Service Centre' 12 May 2006

Treasury Minister Allan Bell and Mr Graham DaviesIsle of Man-based companies also won nine awards out of a total 14 award categories in this year’s International Investment Fund and Product Awards, and in four awards a further five local companies were highly commended. Rounding the ceremony off the Isle of Man, for the sixth year running, has been named winner of International Investment Magazine’s Best International Financial Services Centre 2006.

The Treasury Minister Hon. Allan Bell MHK was delighted to receive the Isle of Man’s award. He commented, ‘This prestigious award recognises the Isle of Man’s strength as a leading jurisdiction of choice. The Island is maintaining a competitive edge by pursuing the economic, social and fiscal strategies that have stood us in good stead over the last five years. We are also delighted that the financial services industry has been recognised by the awards to Isle of Man-based companies. All key segments of the finance sector are healthy, stable or expanding, and have been playing a key role in the success of the Island’s economy’.

Notably, Royal Skandia were declared winners in three categories and were highly commended in one other, while Fairbain Private Bank were declared winners of two awards and were highly commended in one other. The other Island winners include Singer and Friedlander (Isle of Man) Limited, Bank of Ireland (I.O.M.) Ltd and Hansard Group.

International Investment is the UK’s leading offshore publication, published by Incisive Media. The Judges declared the Isle of Man winner of the award because they consider the jurisdiction understands and responds to issues facing the financial services industry and it has a clear strategy for dealing with them.

The International Investment Fund & Product Awards are the most high-profile and prestigious awards ceremony for the offshore world. They took place at the Victoria Park Plaza Hotel, London on the evening of Wednesday 10th May, and were attended by more than 300 leading financial services providers.

The strength of the Isle of Man as a leading finance centre has also been recognised by Financial Times publication, The Banker, when it was named European Winner of its Financial Centres of the Future 2005 in November 2005.

Treasury Minister Hon. Allan Bell MHK receiving the award from Manxman Graham Davies founding partner of coaching consultancy ‘Straight Talking’.

Isle of Man Award winners:

Best Offshore Life ProductRoyal Skandia – Collective Investment Bond
 ‘Highly Commended’ –Friends Provident International
Best Offshore Life Product RangeRoyal Skandia
Best International Life GroupRoyal Skandia
Best Offshore Bank ProductSinger & Friedlander (Isle of Man) Limited – Money Market Current Account
 ‘Highly Commended’ – Close All Weather Fund
Best Offshore Bank GroupFairbairn Private Bank
Best Offshore Structured Product ProviderBank of Ireland (I.O.M.) Limited
Best Internet & Technology ProviderHansard Group
 'Highly Commended’ - Fairbairn Private Bank
Best Commitment to ServiceFairbairn Private Bank
 ‘Highly Commended’ - Axa Isle of Man Limited and Royal Skandia

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