Gibraltar to launch government-owned insurance company to provide low-cost liability cover

GIBRALTAR plans to launch a government-owned insurance company that will provide for liability cover at a more affordable price than ever before.

Financial Services Minister Nigel Feetham – one of the five newly elected GSLP/Liberal parliamentarians – revealed the initiative in London.

“In the spirit of innovation, we intend to roll out a Government-owned captive insurance company,” Feetham said.

“This move will provide competitive insurance for the government, while catering to public interest insurance needs.”

His speech set the stage for thought-provoking discussions at the Insurance Breakfast in London’s One America Square.

It was all part of an annual Gibraltar government initiative to raise awareness of the

Hannah Gurga, the Director General of the Association of British Insurers (ABI), took the centre-stage next.

She spoke on ‘ABI’s invaluable contribution to the insurance sector and its commitment to fostering international collaborations’.

Gurga later oversaw a discussion between Donna Scully, Director of Carpenters Group and Claire Burrel of the Ardonagh Group.

Then, CEO of the Gibraltar Financial Services Commission (GFSC) spoke about how Gibraltar licences its businesses and opened a discussion on the impact of technology on insurance.

A panel led by Mohammad Khan of Price Waterhouse Coopers led the discussion with contributions from other experts.

The day before, John Cortes described Gibraltar as ‘a small nation like no other that will simply survive’ at an annual diplomatic reception in London.

The re-elected environmentalist toasted his party’s victory with a speech on Gibraltar Day at Somerset House in the British capital.

He was even able to talk about the one issue that is closest to every nature-lover.

“The biggest existential danger to our communities, indeed to our species, continues to be the impact of climate change,” Cortes said.

“So it would be remiss of me not to appeal on our collective behalf, that the UK does not renege on its climate objectives and continues to lead in its fight against climate change,” he added.

Finally, he asked for ‘friends, to partner us as we move forward’, and said he counted on all of those present.


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