The actuarial arm of Mazars has opened an office in Gibraltar to serve a growing insurance sector.
Gibraltar’s insurance market has been in growth for the past eight years and there is an increasing demand for specialist advice relating to the Solvency II directive.
In addition to Solvency II advisory work, the practice will offer insurance related actuarial services, in particular reserve reviews, pricing reviews and services relating to life insurance and pensions, drawing on Mazars’ network of 50 actuaries across Europe.
“There are now over 60 insurance companies based in Gibraltar compared to 22 in 2002. Few of these companies have an in-house actuarial resource and we believe that a dedicated consultancy based in the peninsular is best placed to offer actuarial services to the market,” Mazars actuaries and consultants Gibraltar director Paul Tysoe said.
Tysoe was instrumental in setting up Gibraltar’s Solvency II sub-committee, which acts as the local insurance industry’s technical forum on directive matters.
He has 14 years of experience working for personal lines insurers, most recently as an executive director at Zenith Insurance, and has worked in Gibraltar for 6 years.