Insurance managers are authorised to provide managerial functions to licensed Gibraltar insurance or reinsurance companies and/or to give advice. The functions of an Insurance Manager are similar to the functions of the staff and executive management team of an insurance company.
Insurance managers enter into formal agreements with insurance companies they manage and the agreements describe and direct the relationship between the parties, clearly setting out the respective functions, duties and responsibilities.
There are currently seven insurance managers authorised by the GFSC to provide insurance management services. They include three of the five largest global insurance brokerage and risk management companies, three local managers and one manager that specialises in ILS transactions.