A GIBRALTAR business delegation has participated in a major new Chinese insurance seminar.

Gibraltar Finance, including Albert Isola, headed to Beijing for the first Meeting of the Captive Specialised Committee of the Insurance Society of China on January 7.

GO EAST: Gibraltar delegation in China
GO EAST: Gibraltar delegation in China

A captive insurer is wholly owned and controlled by its insureds, with around 7,000 companies worldwide.

The committee has been established to carry out specialized research and help grow the industry in China.

Isola said: “As Chinese businesses continue to expand overseas and make acquisitions in Europe and across the world we believe there are opportunities for these businesses to establish captive insurance companies close to their acquired assets.

“We hope that Gibraltar will become the home for a number of these new Captives.”

Michael Ashton, a senior executive at Gibraltar Finance, was one of the speakers at the seminar, which drew an audience of 250 people.

Isola will travel to Nanjing and Shanghai on Monday for more meetings.