Insurance In Gibraltar - 3. Regulation

Insurance business in Gibraltar is regulated by the Insurance Companies Ordinance, 1987 and licensed and supervised by the Financial Services Ordinance, 1989. The Commissioner of Insurance is charged with the general administration of the Ordinance and its Regulations which provide a comprehensive framework for the licensing and ongoing supervision of insurance companies, including captives. In Gibraltar no distinction is drawn between a captive and any other category of insurance company, although the nature of their business is taken into account when considering their registration applications. Furthermore there are no regulatory restrictions on the type of business in which a captive may deal.