It might look like the Isle of Man and the City of London have nothing in common, but mutual financial cooperation is actually the way forward so that the whole country can benefit, writes Michael Crowe, chief executive officer, Finance Isle of Man

The Isle of Man was named ‘Best International Financial Centre’ at the prestigious International Investment Awards 2023, beating off competition from Jersey and Guernsey.

In addition, Finance Isle of Man won the award for ‘Excellence in Innovation within International Finance Centres’.

The Isle of Man’s business community was well represented at the awards, with more than 40 shortlisted nominations coming from island-based companies.

•Canaccord Genuity Wealth Management won ‘Best International Fund Group’

•IFGL won ‘Best International Life Group (Non-UK)

•Ardan International won ‘Best International Platform’

•RL360 won ‘Best International Portfolio Bond’ and were joint winners of ‘International Campaign of the Year’

•Canada Life won ‘Best International Trust Product’ and joint winners of ‘International Campaign of the Year’ and the ‘Excellence in Trust & Estate Planning’ award

•Friends Provident International won ‘Best Protection Plan’

•Hansard International won the ‘Excellence in Fintech (Industry)’ award

•Zurich Workplace Solutions won ‘Best Employee Benefits Solution’

•Standard Bank won the award for ‘Excellence in Private Banking’

Many island companies were also highly commended including Boal & Co and Utmost Group.

Michael Crowe, chief executive officer of Finance Isle of Man, commented: ‘The Isle of Man has always been proactive and on the cutting edge of global finance. We are exceptionally proud to see such a large number of island-based companies and individuals represented at the International Investment Awards.

‘Successes such as these demonstrate the strength and depth of the financial and professional services industry on the island, which is a testament to the dedication and expertise of the individuals working within our community.’

Simon Pickering, Head of Insurance and Pensions at Finance Isle of Man, added: ‘We are delighted to receive awards for “Excellence in Innovation within International Finance Centres” and “Best International Finance Centre”. We are an island that doesn’t stand still and we are constantly looking at how we can support and develop our long established financial sector.

‘Our Insurtech project has been a collaboration with the Isle of Man Government and industry champions on creating a new and exciting sector in the Isle of Man. We will continue to work with stakeholders to deliver a very appealing Insurtech innovation proposition.’