In today’s challenging global marketplace, companies require a committed and technically outstanding professional services provider who truly understands their business. Using our local and global resources, we strive to provide meaningful thought leadership and technical support, tailored to the insurance industry on topic issues such as market trends, changes in regulatory framework (including solvency) and evolving changes to reporting requirements locally and globally.
Gibraltar has become a recognised jurisdiction for insurance companies over the last few years, insuring approximately 10% of all UK cars. Being a member of the EU, a licensed Gibraltar insurance company (and any licensed financial services company) has the ability to be able to passport its services throughout the EU without the need for a separate license.
The principal reasons for establishing an insurance enterprise in Gibraltar include:
- well respected jurisdiction
- dynamic appropriate regulation
- tax minimisation and deferral
- cost reduction
- risk retention, risk management and loss of control
- stabilisation of earnings
- greater availability of insurance cover and access to reinsurance markets
- improved management of group funds
- development of a profit centre
KPMG in Gibraltar is a market-leader in professional services to the insurance industry in Gibraltar, working closely with major industry carriers, brokers and insurance services providers. We also invest locally in the insurance industry through participation in insurance industry groups and have regular open communication with the Government and regulator.
This broad experience enables us to service companies not only writing traditional lines, but those whose business includes specialised short and long tail lines such as life, product warranty, credit life, environmental liability, general liability, E&O, D&O, loss portfolio transfers and structured reinsurance.
Our insurance group is multi-discipline offering a full suite of services tailored to the insurance industry, including audit, tax, actuarial, internal audit, secondment and recruitment services, information technology and business continuity, regulatory and compliance and financial advisory professionals. These people are committed to quality client service and we are proud to be recognised as a leader in this area. We aim to provide clients with greater access to partners and senior management than other firms and to provide continuity of staffing.
We have an extensive professional development programme, including insurance specific training, which means even the most junior members of the team have a solid understanding of your business and your industry.
The Insurance and Pensions Authority is charged with the regulation of the insurance sector.