After 19 years of offering Insurance policies, Tradewise Insurance Company has decided to cease entering into any new or renewal insurance contracts after 31st December 2019. The Board has concluded that, given the ever-increasing costs of operating a small insurer, this is in the best interests of our stakeholders. The protection of our policyholders remains the foremost consideration for the board.
Tradewise have informed our regulator, the Gibraltar Financial Services Commission (GFSC) of our intentions, and they have issued the necessary direction to allow us to enter a period of run off, which will be managed in a controlled and solvent manner. All existing policies will continue to be serviced, and all claims will be handled.
Tradewise Insurance Services, our trading partner within the UK, have secured capacity with Berkshire Hathaway International Insurance. Therefore, they will continue to provide insurance policies for clients within Motor Trade from 1st January.
We would like to express our deepest thanks for all the support we have received over the years from our clients as well as our partners within the brokering and reinsurance world.
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