Motor market constraints not Gibraltar-specific, GIA says
Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association says.
Service confirmed last week (24 March) it was ceasing to write business citing the competitive UK motor market and pressures related to Solvency II capital requirements as reasons for its exit.
GIA
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