Timetric’s ’Governance, Risk and Compliance – The Gibraltar Insurance Industry’ report is the result of extensive research into the insurance regulatory framework in Gibraltar.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Summary
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Gibraltar, including:

  • An overview of the insurance regulatory framework in Gibraltar.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Gibraltar.
  • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.



Scope

  • The report covers details of the insurance regulatory framework in Gibraltar.
  • The report contains details of the rules and regulations governing insurance products and entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and companies.



Reasons To Buy

  • Gain insights into the insurance regulatory framework in Gibraltar.
  • Track the latest regulatory changes, and expected changes impacting the Gibraltar insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.



Key Highlights

  • The Gibraltar insurance industry is regulated by the Financial Services Commission.
  • Insurance contracts issued in the Gibraltar’s insurance industry are free from premium taxes.
  • Composite insurance is not permitted in Gibraltar; however, both life and non-life insurers are permitted to operate accident and health insurance business.
  • Motor third-party liability insurance and professional indemnity insurance for insurance brokers are the key classes of compulsory insurance in the Gibraltar’s insurance industry.
  • Non-admitted insurance is not permitted in the Gibraltar insurance industry.