A Gibraltar captive that was established in 2007 provides an excellent case study for reinsurance companies to be incorporated in Gibraltar.
The captive was established with a protected cell company structure and the first cell started writing quota share and excess of loss contracts as reinsurance of the group’s Lloyd’s syndicate. In 2010 a second cell was established to write an aggregate stop loss policy. This second was equally innovative as it established a branch in Bermuda which focused on writing excess workers compensation reinsurance as well as US property catastrophe reinsurance, retrocession and industry loss warranty (ILW) covers.
Due to a change of ownership and a reorganisation, the captive was redomiciled in December 2017, but at the time of redomiciliation it had over £1 billion of financial assets on its balance sheet.
Gibraltar provides the ideal environment for reinsurance companies to thrive.