Why insurers set up in Gibraltar
Gibraltar is subject to the same rules as everywhere else in Europe. Kathryn Morgan explains why insurers really flock to the British Overseas Territory
I was intrigued by Tony Cornell’s article on the implications of Brexit, in particular his statement that: “Many motor insurers use Gibraltar as a means of passporting into the UK. If we leave, its special status within the EU will go. This enables them currently to have lower capital ratios, tax and lighter regulation [my emphasis] giving them a competitive advantage.”
The Gibraltar Financial Services Commission is a recognised National Competent Authority and, as such, we have consistently
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