Context
The ABI and GIA have signed a Memorandum of Understanding (MoU) to promote understanding and cooperation between the two organisations.
Key points to note and next actions
- The agreement builds on current working practices with the intent to coordinate views on key products and issues impacting respective insurance markets, and information sharing on issues of common interest
- Through the MoU information will be shared, when appropriate, including information relating to key products such as motor, home and pet insurance.
- Views and approaches on key issues will be coordinated where there is mutual interest and benefit, and relevant networking, hosting or learning and event opportunities will be shared to support members
- The ABI represents more than 300 member companies, including most household and specialist providers
- The GIA represents all diverse elements of the insurance industry in Gibraltar, including insurance and reinsurance companies, insurance company managers and life and general insurance intermediaries within its membership
- The ABI and GIA have long worked together with Gibraltar-based insurers playing a significant role in UK markets.