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RedSands

Financial strength

NOTICE: A recent Insurance Times report on the Gibraltar insurance market reported an incorrect solvency coverage ratio for Red Sands Insurance Company (Europe) Limited. The Insurance Times apologised for this error and corrected the report as soon as it was picked up. A copy of the correct report is available here.

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The success of the Red Sands Insurance Group has been built on sound financial principles. We aim to deliver sustainable long term returns to our shareholders, partners and clients.

The group currently has assets in excess of £77,000,000 and always holds a significant margin above the European Union solvency threshold. Our financial strength is further enhanced through reinsurance support purchased from international reinsurers when required.

Solvency and Financial Condition Report (SFCR)

Solvency II became effective from 1st January 2016. From this date, we use Solvency II rules to calculate our capital requirements. These rules require us to publish an annual Solvency and Financial Condition report at the end of each financial year. 

Click here to download

 
GROUP SOLVENCY COVER RATIO
>174%
An important measure of our group’s financial strength.
Red Sands Insurance and Red Sands Life together hold more than 174% of the EU's Solvency II capital requirement.
 
NUMBER OF EUROPEAN PARTNERS
10 PARTNERS
AND GROWING
 
NUMBER OF POLICIES
3,000,000+
Red Sands Insurance and Red Sands Life currently have more than 3,000,000 live policies.
 
CLAIMS PAID 2016
£67,000,000
Red Sands Insurance and Red Sands Life together paid more than £67,000,000 in claims to clients in 2016.
Number of European countries
Authorised to operate in 15+ EU countries and expanding...
Gibraltar’s membership of the European Union together with the UK, allows Red Sands Insurance and Red Sands Life to insure
risks directly in any European Economic Area jurisdiction.

All facts and figures correct as of 31st December 2016.

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.