Contact Us

+350 20079000 info@hassans.gi

This data will only be used by Hassans for processing your query and for no other purpose. View our privacy policy

Hassans advises St Julians on their possible move to Gibraltar from Malta.

Hassans is advising in respect of the possible plans for a redomiciliation of a UK-focused motor insurer owned by Markerstudy (St Julian) to Gibraltar from Malta, as a result of Britain’s vote to leave the European Union.

As reported on Friday 7th July by Reuters, and subsequently by the New York Times and insurance-focused publications: 

“A number of insurers that write insurance in Britain operate from Gibraltar and from Malta. If Britain loses access to the single market after Brexit, Malta-based insurers will no longer be able to sell insurance into Britain. Gibraltar, in contrast, is a British overseas territory, so those ties will continue.”

Markerstudy commented in a statement:

“An application to re-domicile St Julians has been submitted to the Malta Financial Services Authority in order to protect the business and enable the insurer to continue trading with the UK…the favoured proposal is to move the operation to Gibraltar.”

Markerstudy already has two insurance firms in Gibraltar focusing on UK business, Markerstudy Insurance and Zenith Insurance.

Nigel Feetham, partner at Hassans, added:

“Gibraltar and Malta were comparable jurisdictions for insurers. The system of law is not entirely dissimilar and the authorisation process and prudential regime in insurance are also very similar. Gibraltan insurers with large exposure to the European Union are also considering moving operations with Luxembourg and Malta the favoured locations.”

Latest Insights from Hassans

Corporate Tax Guide – Chambers and Partners

Chambers Global Practice Guides provide in-house counsel with expert legal commentary on the main practice areas in key jurisdictions around the world. The Corporate Tax guide focuses on the practical […]

Posted on

Mondaq: Blockchain Comparative Guide – Gibraltar

Our contribution earlier this year to the Mondaq Blockchain Guide 2020, with Partner and FinTech Co-lead, Vikram Nagrani, covering the Gibraltar chapter serves as a jurisdictional comparator for Blockchain businesses […]

Posted on

Mental Capacity and Wills: The importance of detailed assessments and notes

As outlined in this STEP article although an individual has testamentary freedom, it is important that their mental capacity is correctly assessed when they are choosing to disinherit an individual […]

Posted on