Tate & Lyle is celebrating the 10th anniversary of its Gibraltar-domiciled captive insurance company.
The captive was established in 2006 after Aon Global Risk Consulting reviewed Tate & Lyle’s global risk management and risk financing requirements and strategy.
According to Tate & Lyle, Gibraltar was the chosen domicile because of its “ability to establish a new captive insurer, swiftly within a well-regulated and recognised captive jurisdiction”.
Albert Isola, minister of commerce for Gibraltar, said: “The reasons that Tate & Lyle chose Gibraltar, namely an established insurance domicile with a business friendly and approachable regulator together with experienced local service providers and easy access for senior management travelling from the UK remain just as valid today as they were in 2006.”
Robert Gibber, chairman of Tate & Lyle Insurance Company Gibraltar and executive vice president and general counsel of Tate & Lyle, added: “Gibraltar continues to provide all the attributes we were seeking from an insurance jurisdiction back in 2006.”
