The Government of Gibraltar and Insurtech UK have renewed the Statement of Intent that was entered into in 2021, enhancing support for UK-based insurtech companies seeking authorisation in Gibraltar, and creating opportunities for Gibraltar licensed firms in the UK.

Nigel Feetham, Minister for Justice, Trade and Industry said: "Renewing our joint Statement of Intent with Insurtech UK is a testament to our commitment to fostering the insurtech sector. We often highlight Gibraltar’s robust insurance industry, particularly in the UK motor insurance sector, but the reality is that our insurance offer is becoming far more sophisticated and technology continues to play a large part in that. Gibraltar provides substantial competition and choice for UK consumers.

“I am enthusiastic about the possibilities this renewed cooperation brings and am grateful for the proactive and positive engagement from Insurtech UK's CEO, Melissa Collett, who I had the pleasure of welcoming to Gibraltar."

Melissa Collett, Insurtech UK's CEO added: "We are delighted to renew our Statement of Intent with HM Government of Gibraltar to signify our continued collaboration around insurtech that was originally agreed in 2021. Our UK insurtech community continues to grow, and we wish to continue to explore the opportunities in Gibraltar on behalf of our members. We remain committed to supporting our insurtechs on their authorisation journey and Gibraltar continues to be a potential option for some members given the speed and accessibility of the process. Gibraltar has unique and strong links with the UK insurance sector and insurtech is an increasing part of that, which is why we are delighted to renew our engagement with the Gibraltar market."

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