Gibraltar: A TechTalk with innovation pulling power

February 4, 2024
1 min read


  • Gibraltar is being developed as a centre for innovation
  • Gibraltar was one of the first regions to introduce a DLT regulatory framework in January 2018, paving the way for insurtechs and startups
  • The breakout moment for Gibraltar occurred back in 2001, when the first open market insurers began setting up there
  • Since 2001, Gibraltar has become home to a significant number of insurance carriers providing services to the UK market
  • Motor insurance remains the most dominant line of insurance in Gibraltar, but the jurisdiction is keen to diversify
  • Gibraltar has plans to create a captive regime and has received approval from the UK Treasury for this
  • Being a small jurisdiction, Gibraltar is able to be nimble in the way it markets itself as an insurance hub
  • Gibraltar offers several advantages to insurance firms and insurtechs, including tax advantages, better access to regulators, and quicker speed to market
  • Gibraltar is seen as an important part of the UK personal lines market
  • A more joined-up approach between the UK and Gibraltar is being pursued

The British overseas territory of Gibraltar is making strides towards becoming a centre for insurance innovation. The territory introduced a Distributed Ledger Technology (DLT) regulatory framework in 2018, providing insurtechs with a secure and efficient environment in which to operate. Gibraltar has been attracting major motor insurance carriers since 2001 and today, motor insurance accounts for over 30% of the UK market share. In addition to motor insurance, Gibraltar is home to pet and travel insurance platforms that account for a significant share of the UK insurance market. While Gibraltar remains strong in motor insurance, the territory is keen to diversify and has received approval from the UK Treasury to create a captive regime as part of its efforts to attract niche and tech-savvy businesses. Gibraltar’s small size works to its advantage, allowing it to be agile and quick to market. The territory offers tax advantages and better access to regulators, making it an attractive destination for insurance firms and insurtechs. Gibraltar is viewed as an important player in the UK personal lines market, and increased collaboration between the UK and Gibraltar is expected moving forward.

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