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Gibraltar Finance Report
Q&A with the Minister for Digital and Financial Services
By The Hon. Albert Isola MP, HM Government of Gibraltar
Why do so many technology firms choose Gibraltar as opposed to other jurisdictions? .
Gibraltar has attracted technology firms for many years. The Online Gaming sector evolved from here many years ago as the first real technology industry followed by the Insurance Sector and now the Blockchain Industry. In each of these cases, Gibraltar has developed a bespoke regulatory framework.
As the frameworks are created, they provide that necessary level of certainty that businesses need to grow and succeed. They are developed in the welcome spirit of collaboration between the Government, the Regulator and industry participants themselves working together to enhance the Jurisdiction.
You have been attracting large insurtech firms over
recent times adding to an already strong insurance sector. What do these developments mean for Gibraltar?
In 2020, some estimates suggest, $16.5 billion was invested in insurtech companies across the globe, and this trend has continued into 2021. While the level of capital in the industry is significant, so too is the level of innovation. We are proud to have had the opportunity
to license two insurtech companies who are at the leading edge of innovation. Zego, recently raised $150m with a valuation of $1.1bn and Marshmallow raised $85m with a valuation of $1.25bn. These are already substantial businesses, and we are delighted to have them as part of our financial services community. Gibraltar insurance firms have been, for some time, a key and successful contributor of our community and the development into the insurtech arena is a natural and welcome one.
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Gibraltar International
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