ISOLAS welcomes the news that HM Government of Gibraltar has now received confirmation from HM Treasury that Part VII transfers can now take place between the UK and Gibraltar-based insurers.
Christian Caetano, an Associate with ISOLAS, the longest established firm in Gibraltar, has welcomed the news in saying that ‘the confirmation that Part VII transfers can now be made between the UK and Gibraltar opens the door to a wealth of opportunity for our insurance sector. Gibraltar is already, for many reasons, a leading European domicile from which to conduct insurance business and I am particularly optimistic about the jurisdiction’s prospects of securing run off business under Part VII insurance transfers. Gibraltar boasts an enormous amount of technical expertise within its professional advisory firms and insurance managers, as well as a developed legislative framework, including protected cell companies legislation, which will no doubt make us a vastly attractive proposition.
For more information on Part VII transfers between the United Kingdom and Gibraltar, kindly contact Christian Caetano at firstname.lastname@example.org