ISOLAS LLP Partner, Christian Caetano, has once again contributed the Gibraltar Insurance Chapter to Thomson Reuters Regulatory Intelligence platform, providing an update on recent developments affecting Gibraltar’s insurance sector. The Gibraltar Chapter addresses the impact of Brexit on the insurance industry, as well as developments in respect of the Gibraltar Authorisation Regime (GAR).
The Chapter also touches on recent changes to Gibraltar’s legislation designed to attract further Managing General Agents (MGAs) to the jurisdiction, as well as initiatives in the Insurtech space, such as the Statement of Intent signed between Gibraltar Finance and the UK’s trade association for Insurtech businesses, Insurtech UK. In addition, the Country Guide outlines existing application requirements for potential insurance company applicants seeking to apply for permission from the Gibraltar Financial Services Commission (GFSC).
Christian commented as follows: “It is a pleasure to have been given the opportunity to continue contributing the Gibraltar Chapter of the Thomson Reuters Regulatory Intelligence Insurance Guide. The past year has brought about various notable changes to Gibraltar’s financial services framework, as well as the introduction of exciting initiates within the insurance space.
Gibraltar’s accessible and modernised framework for financial services firms undoubtedly increases the appeal for those thinking of establishing their operations in Gibraltar, with many new potential businesses currently looking to set up locally. A particular focus of interest in Gibraltar derives from the ability of Gibraltar firms to passport their services directly into the United Kingdom pursuant to the bespoke (and unique) single market access arrangements currently in place between both jurisdictions.
Furthermore, the Gibraltar insurance sector continues to attract Managing General Agents (MGAs) and Insurtechs, with two of the most successful UK Insurtech start-ups recently establishing their own insurance companies in Gibraltar.”
Thomson Reuters Regulatory Intelligence guides provide exclusive news, analysis, and practical guidance from a global team of regulatory compliance experts and journalists. The guide is available for subscribers only here: http://go-ri.tr.com/rKTuiS and Christian may be reached directly on christian.caetano@isolas.gi.
