The Horseshoe Group, an insurance management firm servicing clients totalling assets of around $8bn, will open operations in Gibraltar following the publication of the jurisdiction’s guidelines on insurance linked securities (ILS)…
…In the process of drawing up Gibraltar’s first ILS guidelines, the FSC established a working group comprised of industry experts with Perez joined by the likes of Aon, Swiss Re, Leadenhall Capital Partners and local law firm Hassans.
“There will be financial institutions that would want a European Solvency II-compliant domicile,” Nigel Feetham, partner at Hassans and a specialist in ILS, told Captive Review.
“This could provide the capital treatment that might not otherwise be available. Being in the EU may therefore prove to be valuable in a post-Solvency II world.”
He added: “If we can provide a smooth process for the establishment of ILS business, I think we can become the EU domicile of choice.”
See the full story here.