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Article: Gibraltar solidifying its spot as a domicile
- Article from:
- Business Insurance
- Article date:
- May 4, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SARAH GODDARD
GIBRALTAR - At the southwestern tip of Europe, the isthmus of Gibraltar, less than four square miles and attached to the European mainland by a narrow strip of land, has been the center of much attention over the past year.
In June of last year, the United Kingdom's Department of Trade and Industry approved Gibraltar's Financial Services Commission as a competent authority to oversee the regulation of insurance business. This means FSC-approved insurers now can write pan-European insurance business, both direct and reinsurance.
Gibraltar-based insurers and captive managers went into overdrive to promote the jurisdiction as soon as the ...