The Gibraltar-based insurance market services customers across Europe but has a most significant role within the UK insurance space, where a majority of its more than 3bn in business is found. Insurers located in Gibraltar collectively underwrite almost 20% of the UKs private motor market. While a number of factors have been at play in leading insurers to domicile here, a number of factors not least the impact of Brexit and the shift to Solvency II have stirred uncertainty.
Gibraltar is host to an insurance industry of 32 non-life insurers trading a collective 3.3bn on the open market.
Around two thirds of the market underwrite motor insurance and this accounts for, by some margin, the greatest share of total GWP.
The result of the referendum on the UKs EU membership provides a challenge to the Gibraltar market, not least those insurers with significant levels of Europe-based business. However, for a majority with a predominant focus on the UK market, the impact is likely to be largely mitigated.
Admiral Insurance is the largest underwriter in Gibraltar, accounting for more than 850m in total GWP.
Verdict Financials Uncovering the Insurance Market in Gibraltar report takes a look at an insurance industry that, collectively, plays a significant role within the UK insurance space. This report illustrates the Gibraltar market in numbers, identifying its size and impact across key product areas. After placing these figures in a context which highlights why insurers locate here, what these insurers tend to look like, and the likely impact of Brexit, the report profiles each non-life general insurer in the market.
Understand the Gibraltar market better and recognize the impact the industry has on your market.
Benchmark against the market's players and identify which frame the most significant competition to your book of business.
Table of Contents
UNCOVERING GIBRALTARS INSURANCE MARKET
GIBRALTARS GENERAL INSURERS
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