Gibraltar Insurance Market

Here are a few thoughts on the Gibraltar insurance market as we push into 2018. Hope readers find it interesting and if you have any questions please do let me know.

Was 2017 a significant year for the Insurance market?

2017 was a very significant year for the Gibraltar Insurance sector. The topic that most dominated discussion at all levels was Brexit. The decision by the UK to leave the EU had a huge potential impact on the Gibraltar financial sector that relied on passporting arrangements. These concerns were largely mitigated by the UK Government providing assurances to the Gibraltar Government on the continuation of the Gibraltar-UK trading relationship post-Brexit. By premium volume the largest share of business written by the local insurance sector is still with the UK and primarily motor business. What form this will take, however, has yet to be clearly defined and it is to be expected this will happen in the first half of the year.