insurance
Paul & Paz Savignon
Paul Tapsell & Chris Gabay
Chris Lathey, Andrew Stone and Steve Lambourne
Garry Scone, Chris Johnson and Alan Keating
Red Sands Insurance Expands Red Sands Insurance Company (Europe) Limited was licensed in Gibraltar in January 2004 principally to write legal expense insurance business. Since then, it has grown well beyond expectations and in just five years it is now licensed to write 16 of the 18 classes of general business which exist on the Rock.
photography: Jane McKinnon-Johnson
Red Sands underwrites various lines of business, ranging from motor mechanical breakdown (now 2nd biggest provider in UK), insurance backed home improvement guarantees, Guarantee Asset Protection & Payment Protection, Personal Accident to Pet Insurance. Premium has grown to £22m for 2008, with budgeted growth for 2009 expected to exceed 20% despite the credit crunch. During 2007, Red Sands decided to strengthen
its local presence and became self-managed with its own compliment of staff. Also during 2007, Red Sands decided to expand its business beyond the UK and Ireland. It now writes business in Spain, Portugal, Greece, Cyprus, Czech Republic, and Poland. Although currently establishing a foothold in these countries, it is expected that these territories will become a very significant part of the company’s business in the foreseeable future.
Jaco Marx, Alain Dufraisse, Dustin Horrillo and Ann-Marie Lopez
16
Steve Quinn & Chris Collins
Chris Johnson and Miles Japhet
Jaco Marx, Paul Sykes, Chris Johnson, Chief Minister Peter Caruana, and Paul Savignon
GIBRALTAR MAGAZINE • JUNE 2009