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June 16, 2010

Mazars opens office in Gibraltar

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.

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