Can Gibraltar’s insurers keep up with Solvency II?

Efforts by Gibraltar’s Financial Services Commission (FSC) to prepare for Solvency II are paying off.

Accounting firm Deloitte’s annual study of the Gibraltar motor insurance market shows that eight of Gibraltar’s firms had solvency margins higher than 200%, up from five at end-2012.

But the big question is whether all companies will keep up. Deloitte’s study reveals that two insurers were below the minimum required solvency margin set by the FSC at the end of 2013.

Companies must also stay strong. As our study shows, some companies’ solvency margins have been volatile. This cannot happen after 1 January 2016.

The good news is that, judging from the responses we received, chief executives are making every effort to ensure their companies are prepared.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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