shorts in the Algarve. Ibex has been operating there for many years via agents and through Ibex offices which joined the Ibex family with the acquisition of the client portfolio of Lloyd & Whyte International in 2010. Ibex is a coverholder for Lloyd’s of London, the world’s leading insurance market as well as operating as an insurance broker and is fully authorised by the Instituto de Seguros de Portugal. Ibex plans to extend its product range over the coming year, not only in Portugal and Spain but also in the local Gibraltar market. Ibex already provides cover for cars, houses, businesses, pets, travel, boats, health and community blocks whilst also offering funeral plans. “I am confident that with our common values, strong talent pool and vision that this acquisition will help us maintain our position as the leading provider of insurance products to expatriates in our chosen markets. We are delighted to have the opportunity to extend our business in Portugal, particularly through David who we have known for many years and who is very professional in all his business dealings,” said Ibex Managing Director, Richard Hill. Ibex also offers car insurance in the domestic Portuguese market through its partnership with the Automóvel Club de Portugal (ACP) and has done so successfully for over 5 years. Ibex has recruited a number of Portuguese speaking staff at its Irish Town headquarters to support ACP and its clients and plans to grow this domestic business in the years to come. n
New retail office for Ibex Insurance The expansion of Ibex Insurance in Spain and Portugal has accelerated with the acquisition of David Hills Insurance Agency in Almancil in the Algarve.
David Hills set up his insurance agency in the Algarve 25 years ago and built up a loyal client base of expats through excellent service and the wide range of insurance products offered. Ibex has taken over and re-branded the premises in the prestigious Golden Triangle area and employed the three members of staff who had worked for David for many years. This illustrates a significant investment and commitment from Ibex to increasing business
gibraltar the
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GIBRALTAR MAGAZINE • AUGUST 2014
24/07/2014 10:06