Gibraltar: Detailed Assessment Report of Observance of the Insurance Core Principles

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 156

Publication date: May 2007

ISBN: 9781451815078

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Finance , ISCR , CR , supervisory authority , guidance note , EU insurer , insurance manager , corporate governance , Gibraltar insurer , IAIS insurance core principle , Insurance companies , Insurance , Virtual currencies , Internal controls

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Summary

This paper examines Gibraltar’s Detailed Assessment Report of the Observance of the Insurance Core Principles. Foreign establishments operating in Gibraltar are all European Union (EU)-based and therefore covered by EU directives, including the directive on freedom of establishment. A key reason for the growth in this sector is the ability of firms licensed in Gibraltar to passport their services to EU member states. The domestic insurance market is, however, quite small with a population in the region of 30,000.