Gibraltar: Reinsurance

The European Commission last week published a notice to stakeholders on the UK's (and consequently Gibraltar's) withdrawal from the EU and EU rules in the field of insurance and reinsurance.

Historically, 'cell companies' under the statutory regime for Protected Cell Companies have been used primarily for first party (captive-type) business.

Despite the notable uncertainty concerning the United Kingdom and Gibraltar's future trading relationship with the European Union, there are a number of upcoming developments which the Gibraltar insurance industry and its stakeholders should be monitoring.