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Over 20% of the UK’s Motor Insurance
policies are underwritten
in Gibraltar
Since 2000 Gibraltar's insurance industry has expanded from just 13 licenced insurers to around 45 licensed insurers currently writing new business today. The total gross premium income written by all insurance companies in Gibraltar in 2018 was circa £5 billion
The largest sector is Gibraltar’s motor insurers who in 2018 had more than a 20% share of the UK motor insurance market which means that 1 in every 5 cars on the road in the UK is insured in Gibraltar
Gibraltar has been a captive insurance domicile for 50 years with the first captive insurance company established for an international hotel group in the late 1960s
Gibraltar was the first EU jurisdiction to offer protected cell companies legislation in 2001 and PCCs have been widely used within insurance company structures writing both general and life insurance business
Gibraltar has also been home to a number of insurance linked securities (ILS) transactions, the first ILS in April 2015 was a €100 million collateralised reinsurance
Benefits
What benefits do Gibraltar based insurance companies offer UK consumers?
UK Market
How important a market is the UK for Gibraltar?
Developing
How do you see the Gibraltar insurance sector developing in the near and medium term?
UK Single Market
How important is the already announced 'single market in financial services with the UK' come what may?
Regulator
How important is it to have a 'robust but responsive and approachable' regulator that understands business needs?