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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 the UK insurance market. Gibraltar operates an equivalent regulatory regime to that in the UK (whilst recognising the distinct differences in the jurisdiction) and as a result can insure risks directly in the UK.

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. 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, and first-class regulation,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 are regulated to the highest standards. As part of the European Union until 2020, Gibraltar implemented all relevant EU directives.Since leaving the European Union alongside the UK in 2020, Gibraltar maintains equivalence of regulation with the UK.

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.