We are delighted to reveal that WDP Insurance has been named as the best Gibraltarian insurer after an extensive analysis of Solvency and Financial Condition Reports for Gibraltar-regulated non-life insurers.
The insurer earned an Underwriting Rating of 82%, securing top spot and its first Gold Award – this is also three percentage points better than the best performing UK-regulated insurer.
Based on our proprietary formula, devised specifically for this research, Insurance DataLab rates insurers across three key pillars – combined operating ratio (COR), three-year aggregate COR, and improvement in the COR over the last 12 months – with the top performers all receiving an Insurance DataLab Gold Award.
WDP Insurance is joined on the list of top performers by Alwyn (72%), Acasta European Insurance (72%), Haven (72%), and Trinity Lane (72%).
Gibraltar Outperforming Peers in the UK
Gibraltarian insurers received an average overall rating of 69% in our latest analysis, outperforming their UK-regulated peers by two percentage points.
This represents a marked turnaround for the market, with a 15 percentage point improvement seeing the Gibraltarian average leapfrogging the UK after falling behind with a score of 54% last year (UK: 64%).
Gibraltarian insurers were ranked highest for their Three-year Aggregate COR Rating with a score of 88%, some 11 percentage points better than their UK peers with a score of 77%.
Meet the Best Gibraltarian Insurers
- WDP Insurance – 82%
- Alwyn – 72%
- Acasta European Insurance – 72%
- Haven – 72%
- Trinity Lane – 71%
Results for each Gibraltarian insurer – as well as for UK insurers – are available on our market intelligence platform, with scores also broken down by business line. You can request a free trial here.
Further analysis is also available in the Insurance Times Top 50 Insurers, for which Insurance DataLab was the data provider.
If you are one of this year’s Gold Award winners and would like a license to use this independent endorsement, contact Dan King.