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RedSands

History

The Red Sands Insurance Company was established in Gibraltar in 2003.

The Company takes its name from the majestic colour of the local rock which can be found all along the Costa de la Luz from Gibraltar to Tarifa in Spain. Not only is Gibraltar lined with natural beauty and steeped in history, it also encompasses a robust financial services industry and has ample access to European insurance markets. Together with the UK, Gibraltar is a member of the European Union and complies with EU regulatory standards. Therefore, Red Sands can insure risks directly in any European Economic Area jurisdiction.

At the time of establishment, we had just one partner operating out of the UK in the legal expenses insurance market. Since then, we have flourished and are now an independent and flexible insurance group able to offer a variety of services consisting of life and non-life insurance solutions. However, we have never forgotten our roots as one of our core philosophies is devoted to partnership - for mutual long term benefit.

The Gibraltar Financial Services Industry

Gibraltar's burgeoning financial services sector dates back to the enactment of the Companies (Taxation and Concessions) Ordinance in 1967, which made provision for a special tax regime for international business. The industry has made great strides since its early days, and now includes a broad spectrum of professional services, ranging from private banking to insurance management.

Gibraltar is a unique jurisdiction for the promotion and development of financial services. It has a common law legal system, highly-developed professional infrastructure, first-class regulation and access to the EU single market in financial services. In order to facilitate the development of the sector, and launch it into the top flight of jurisdictions, the Gibraltar Finance Centre (GFC) Division was established within the Department of Trade and Industry in 1997. GFC is the centre for all activities involving the promotion and strategic planning of the financial services sector in Gibraltar. It should be noted, however, that GFC is not responsible for regulation. This is the remit of the Financial Services Commission, established in 1989 as an independent statutory body.

Gibraltar's financial services industry is constantly evolving. Recent trends include the establishment of a number of portfolio managers, the commencement of direct trading on Eurex, the German/Swiss financial futures exchange, and the promotion of Gibraltar as a domicile for securitisation.

Gibraltar’s financial services are regulated to the highest standards. As part of the European Union, Gibraltar implements all relevant EU directives, but the Financial Services Commission goes further by regulating the industry to UK standards.

For full details please visit www.fsc.gi.

Red Sands Insurance Company (Europe) Limited is licensed and regulated by the Gibraltar Financial Services Commission under the Financial Services (Insurance Compaies) Act 1987 (see FSC website). It is a member of the UK's Financial Services Compensation Scheme, Financial Ombudsman Scheme and The Association of British Insurers.
Registered office: Level 3, Ocean Village Business Centre, 23 Ocean Village Promenade, Gibraltar (Company No. 87598). Copyright © 2014 Red Sands Insurance.