Director, New Business
In recent years, the establishment of insurance companies to underwrite personal and commercial insurance products into the European market (under the EU Freedom of Services Directive) has become increasingly popular. This type of company appeals to organisations that already control large and profitable portfolios of insurance business but are looking to progress into risk participation.
Establishing an EU insurer or reinsurer requires a significant capital commitment but the resulting opportunities and advantages make this worthwhile.
The owner can use their specialist knowledge to manage the business, including the ability to set pricing and coverage and to manage claims. These companies provide passporting into all EU domiciles and create the opportunity to share in profitable underwriting.
Some clients choose to establish EU domiciled captives in order to underwrite admitted EU cover for their own business, a joint venture or a related business.
Our Malta and Gibraltar teams have extensive expertise in direct underwriting structures and they create and manage these types of companies for many of our clients.