Christian, what makes Gibraltar so attractive for companies operating in the financial services sector, particularly banking and insurance (writing over £7 billion of insurance premiums in 2022)? Gibraltar is widely regarded as an innovative, yet robustly regulated, financial centre of excellence. The jurisdiction’s insurance sector is particularly prominent given the important role which it exercises within the UK’s insurance market. In this respect, Gibraltar continues to be a domicile of choice for open market insurers, captives, intermediaries, MGAs and Insurtech firms, all of which operate under the supervision of the Gibraltar Financial Services Commission (GFSC). The GFSC is widely praised for its collaborative approach and deep understanding of the business needs of firms under its supervision. The GFSC itself plays a crucial role in Gibraltar’s overall attractiveness as a financial centre by applying the highest of international standards whilst, at the same time, enabling speed-to-market for prospective licence applicants. As a smaller and nimbler territory, Gibraltar is able to offer potential new market entrants significantly shorter licensing timeframes than larger jurisdictions. Coupled to this is the unique ability of GFSC authorised firms to passport their services directly into the UK pursuant to bilaterally agreed ‘singlemarket’ access arrangements agreed between the respective Gibraltar and UK Governments. No other country or overseas territory enjoys a similar capability to passport services directly into the UK market. Another key component of Gibraltar’s attractiveness is the jurisdiction’s highly experienced insurance managers which provide an array of compliance, accounting and other functions to 68 LAWYER MONTHLY MARCH 2024 Insurance & Reinsurance Regulation in Gibraltar In the financial services landscape, Gibraltar distinguishes itself as a centre of regulatory excellence and a strategic location for businesses. At the heart of this sector, Christian Caetano, a Partner at ISOLAS LLP specialising in Insurance & Financial Services, offers a wealth of expertise to a broad range of clients in the insurance industry. His role involves navigating complex regulatory and corporate frameworks, highlighting Gibraltar’s appeal to global financial institutions. An Interview with Christian Caetano Partner at ISOLAS LLP
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