Insurance Age

Gibraltar: continued growth

    • Insurance Age staff

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Gibraltar now has 31 registered insurance companies writing UK business and three more applications...

Gibraltar now has 31 registered insurance companies writing UK
business and three more applications pending. Most of the insurers are
motor companies and many have previously been associated with the Lloyd's
market. The insurers are thought to be attracted by lower tax rates and
the prospect of escaping Lloyd's fees. Gibraltar insurers need to meet EU
minimum solvency levels but are not subject to additional funding
requirements from the Financial Services Authority and Lloyd's.

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