The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

$1450
Buy Report View Sample

Published: June 24, 2016 Report Code: GD-IS1234MR-ST

Select Item

GlobalData’s 'The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Gibraltarian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Gibraltarian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the insurance industry in Gibraltar:

• It provides historical values for the Gibraltarian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

• It offers a detailed analysis of the key segments in the Gibraltarian insurance industry, with market forecasts to 2019.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

• It analyzes the various distribution channels in Gibraltar.

• It profiles the top insurance companies in Gibraltar and outlines the key regulations affecting them.

Key Highlights

Which features of the Gibraltar market have attracted many captive and offshore insurers to Gibraltar? Which companies does this include?

What has been a key model for Gibraltarian insurers?

What was the CAGR of the life segment during the review period? How is it projected to grow in the forecast period?

What types of insurance can be underwritten from Gibraltar? Where do Gibraltarian insurers tend to source their business from? What is the percentage of motor insurance this includes?

What are the key drivers of the Gibraltarian construction industry during the review period?

Gibraltar has established itself as a leading destination for which industry that plays a significant role in the economy?

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Gibraltarian insurance industry and each segment and category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Gibraltarian insurance industry.

• Assess the competitive dynamics in the Gibraltarian insurance industry.

• Identify growth opportunities and market dynamics in key segments.

• Gain insights into key regulations governing the Gibraltarian insurance industry and their impact on companies and the industry's future.

Enterprise Insurance Co. Plc ,Argus Insurance Co. (Europe) Ltd,Haven Insurance Co. Ltd ,Southern Rock Insurance Co. Ltd,Red Sands Life Assurance Co. (Europe) Ltd

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Gibraltarian Insurance Industry Overview

4.1 Gibraltarian Insurance Industry

5 Industry Segmentation

5.1 Life Insurance

5.2 Non-Life Insurance

5.3 Reinsurance

6 Natural Hazards

6.1 Earthquakes

7 Distribution Channel Outlook

8 Competitive Landscape

8.1 Overview

8.2 Leading Companies

8.2.1 Enterprise Insurance Co. Plc – company overview

8.2.2 Argus Insurance Co. (Europe) Ltd – company overview

8.2.3 Haven Insurance Co. Ltd – company overview

8.2.4 Southern Rock Insurance Co. Ltd – company overview

8.2.5 Red Sands Life Assurance Co. (Europe) Ltd – company overview

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes in Regulations

9.3 Legislation and Market Practice by Type of Insurance

9.3.1 Life insurance

9.3.2 Property insurance

9.3.3 Motor insurance

9.3.4 Liability insurance

9.3.5 Marine, aviation and transit insurance

9.3.6 Personal accident and health insurance

9.4 Compulsory Insurance

9.4.1 Motor third-party liability insurance

9.4.2 Professional indemnity for alternative investment managers

9.5 Supervision and Control

9.5.1 International Association of Insurance Supervisors (IAIS)

9.5.2 Financial Services Commission (FSC)

9.5.3 Gibraltar Insurance Association (GIA)

9.6 Non-Admitted Insurance Regulations

9.6.1 Overview

9.6.2 Intermediaries

9.6.3 Market practices

9.6.4 Fines and penalties

9.7 Company Registration and Operations

9.7.1 Types of insurance organization

9.7.2 Establishing a local company

9.7.3 Foreign ownership

9.7.4 Types of license

9.7.5 Capital requirements

9.7.6 Solvency margins

9.7.7 Reserve requirements

9.7.8 Investment regulations

9.7.9 Statutory return requirements

9.7.10 Fee structure

9.8 Taxation

9.8.1 Insurance premium or policy taxation

9.8.2 Withholding taxes on premium paid overseas

9.8.3 Corporate tax

9.8.4 VAT

9.8.5 Captives

9.9 Legal System

9.9.1 Introduction

9.9.2 Access to court

9.9.3 Alternative dispute resolution (ADR)

10 Definitions and Methodology

10.1 Definitions

10.2 Methodology

11 About GlobalData

11.1 Contact GlobalData

11.2 About GlobalData

11.3 GlobalData’s Services

11.4 Disclaimer

Table

Table 1: Gibraltarian Insurance Industry – Key Facts

Table 2: Gibraltarian Insurance – Gross Written Premium by Segment (GBP Million), 2010–2014

Table 3: Gibraltarian Insurance – Gross Written Premium by Segment (US$ Million), 2010–2014

Table 4: Gibraltarian Insurance – Gross Written Premium by Segment (GBP Million), 2014–2019

Table 5: Gibraltarian Insurance – Gross Written Premium by Segment (US$ Million), 2014–2019

Table 6: Gibraltarian Insurance – Segmentation by Gross Written Premium (% Share), 2010–2019

Table 7: Gibraltarian Insurance – Direct Written Premium by Segment (GBP Million), 2010–2014

Table 8: Gibraltarian Insurance – Direct Written Premium by Segment (US$ Million), 2010–2014

Table 9: Gibraltarian Insurance – Direct Written Premium by Segment (GBP Million), 2014–2019

Table 10: Gibraltarian Insurance – Direct Written Premium by Segment (US$ Million), 2014–2019

Table 11: Gibraltarian Insurance – Segmentation by Direct Written Premium (Percentage Share), 2010–2019

Table 12: Gibraltarian Life Insurance – Gross Written Premium (GBP Million), 2010–2014

Table 13: Gibraltarian Life Insurance – Gross Written Premium (GBP Million), 2014–2019

Table 14: Gibraltarian Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Table 15: Gibraltarian Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Table 16: Gibraltarian Life Insurance – Total Assets (GBP Million), 2010–2014

Table 17: Gibraltarian Life Insurance – Total Assets (GBP Million), 2014–2019

Table 18: Gibraltarian Life Insurance – Net Written Premium (GBP Million), 2010–2014

Table 19: Gibraltarian Life Insurance – Net Written Premium (GBP Million), 2014–2019

Table 20: Gibraltarian Non-Life Insurance – Gross Written Premium (GBP Billion), 2010–2014

Table 21: Gibraltarian Non-Life Insurance – Gross Written Premium (GBP Billion), 2014–2019

Table 22: Gibraltarian Non-Life Insurance – Net Written Premium (GBP Billion), 2010–2014

Table 23: Gibraltarian Non-Life Insurance – Net Written Premium (GBP Billion), 2014–2019

Table 24: Gibraltarian Non-Life Insurance – Total Assets (GBP Billion), 2010–2014

Table 25: Gibraltarian Non-Life Insurance – Total Assets (GBP Billion), 2014–2019

Table 26: Gibraltarian Reinsurance – Premium Ceded (Excluding Retrocession) by Insurance Segment (GBP Million), 2010–2014

Table 27: Gibraltarian Reinsurance – Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2010–2014

Table 28: Gibraltarian Reinsurance – Premium Ceded (Excluding Retrocession) by Insurance Segment (GBP Million), 2014–2019

Table 29: Gibraltarian Reinsurance – Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2014–2019

Table 30: Gibraltarian Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2010–2014

Table 31: Gibraltarian Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2014–2019

Table 32: Gibraltarian Non-Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2010–2014

Table 33: Gibraltarian Non-Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2014–2019

Table 34: Gibraltarian Average Annual Loss by Hazard (US$ Million), 1990–2014

Table 35: Insurance Companies in Gibraltar, 2016

Table 36: EEA Insurance Companies in Gibraltar, 2016

Table 37: Enterprise Insurance Co. Plc – Key Facts

Table 38: Argus Insurance Co. (Europe) Ltd – Key Facts

Table 39: Haven Insurance Co. Ltd – Key Facts

Table 40: Southern Rock Insurance Co. Ltd – Key Facts

Table 41: Red Sands Life Assurance Co. (Europe) Ltd – Key Facts

Table 42: Gibraltar – Insurance Regulatory Framework Key Features

Table 43: Gibraltar – Life Insurance Regulatory Framework

Table 44: Gibraltar – Property Insurance Regulatory Framework

Table 45: Gibraltar – Motor Insurance Regulatory Framework

Table 46: Gibraltar – Liability Insurance Regulatory Framework

Table 47: Gibraltar – Corporate Tax Rates for the Financial Year 2015

Table 48: Insurance Industry Definitions

Figures

Figure 1: Gibraltar’s Consumer Price Inflation, 2010–2014

Figure 2: Gibraltar’s Unemployed Population, 2010–2014

Figure 3: Gibraltar’s Population, 1991–2014

Figure 4: Gibraltarian Insurance – Gross Written Premium by Segment (GBP Billion), 2010–2019

Figure 5: Gibraltarian Insurance – Gross Written Premium Dynamics by Segment, 2010–2019

Figure 6: Gibraltarian Insurance – Direct Written Premium by Segment (GBP Billion), 2010–2019

Figure 7: Gibraltarian Insurance – Direct Written Premium Market Dynamics by Segment, 2010–2019

Figure 8: Gibraltarian Life Insurance – Gross Written Premium (GBP Million), 2010–2014

Figure 9: Gibraltarian Life Insurance – Gross Written Premium (GBP Million), 2014–2019

Figure 10: Gibraltarian Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Figure 11: Gibraltarian Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Figure 12: Gibraltarian Life Insurance – Total Assets (GBP Million), 2010–2014

Figure 13: Gibraltarian Life Insurance – Total Assets (GBP Million), 2014–2019

Figure 14: Gibraltarian Life Insurance – Net Written Premium (GBP Million), 2010–2014

Figure 15: Gibraltarian Life Insurance – Net Written Premium (GBP Million), 2014–2019

Figure 16: Gibraltarian Life Insurance – Penetration (%), 2010–2014

Figure 17: Gibraltarian Life Insurance – Direct Premium per Capita (GBP), 2010–2014

Figure 18: Gibraltarian Non-Life Insurance – Gross Written Premium (GBP Billion), 2010–2014

Figure 19: Gibraltarian Non-Life Insurance – Gross Written Premium (GBP Billion), 2014–2019

Figure 20: Gibraltarian Non-Life Insurance – Net Written Premium (GBP Billion), 2010–2014

Figure 21: Gibraltarian Non-Life Insurance – Net Written Premium (GBP Billion), 2014–2019

Figure 22: Gibraltarian Non-Life Insurance – Total Assets (GBP Billion), 2010–2014

Figure 23: Gibraltarian Non-Life Insurance – Total Assets (GBP Billion), 2014–2019

Figure 24: Gibraltarian Non-Life Insurance – Penetration (%), 2010–2014

Figure 25: Gibraltarian Non-Life Insurance – Direct Premium per Capita (GBP), 2010–2014

Figure 26: Gibraltarian Reinsurance – Premium Ceded (Excluding Retrocession) by Insurance Segment (GBP Billion), 2010–2019

Figure 27: Gibraltarian Reinsurance – Dynamics by Insurance Segment, 2010–2019

Figure 28: Gibraltarian Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2010–2014

Figure 29: Gibraltarian Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2014–2019

Figure 30: Gibraltarian Non-Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2010–2014

Figure 31: Gibraltarian Non-Life Insurance – Percentage of Premium Ceded (Excluding Retrocession), 2014–2019

Figure 32: Gibraltar – The Three Pillars of Solvency II

Figure 33: Gibraltar – Insurance Supervision and Control at Various Levels

Figure 34: Gibraltar – Insurance Regulatory Frameworks for Company Registration and Operation

Frequently asked questions

The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019 standard reports
Currency USD
$1,450

Can be used by individual purchaser only

Most Popular
$2,900

Can be shared by unlimited users within one corporate location e.g. a regional office

$4,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Add to Basket

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

 Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

 Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

 Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

 Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

 Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

 Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

 Senior Account Manager, TSYS

Related reports

View more Financial Services reports
Financial Services
New
Worldline - Competitor Profile
$350 | March 2024
Financial Services
New
Huawei Pay - Competitor Profile
$350 | April 2024
Financial Services
New
Global Risk Report Quarterly Update - Q1 2024
$1,100 | April 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019 in real time.

  • Access a live The Insurance Industry in Gibraltar, Key Trends and Opportunities to 2019 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.
Tell me more