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R J Kiln & Co Ltd acquires share in expatriate insurance specialist

Ibex Insurance Services Ltd and R J Kiln & Co Limited have announced that Kiln, the international insurance and reinsurance underwriting group with a total syndicate capacity in excess of £812 million, has acquired a minority shareholding in the Gibraltar-based Lloyd's Coverholder.

Successful startfor Rockhampton PCC

Rockhampton Insurance PCC Ltd began business in Gibraltar at the beginning of 2008, and expects to write some £60m of reinsurance business through its first cell this year. Rockhampton was set up and is controlled by Line Trustees S.RV.(International) Ltd.

A spokesperson for Line said: "We are pleased to have made this investment in Rockhampton and we anticipate that Rockhampton's business will expand in the fu ture."

Rockhampton,a Protected Cell Company, was established with the assistance of Aon Insurance Managers (Gibraltar) Ltd and Canon Consultancy Ltd, and is the first reinsurance PCC to base itself in Gibraltar. Gibraltar was the first jurisdiction in the Eu ropean Union to implement PCC legislation in 2001.

Using local underwriting ex pertise Rockhampton is currently writing reinsurance business for Brit Insurance, the UK-domiciled international general insurance and reinsurance group.

Rockhampton Chairman, John Young said: "We are delighted to have written our first policies. The FSC have been very helpful in helping us establish the company and along with the Government

Ibex Insurance was founded as a Lloyd's of London Coverholder in 2001 and is the largest provider of expatriate insurance in the Iberian Peninsula and in Gibraltar,where it trades under the name of'Trafalgar Insurance Brokers'.

Kiln's investment in Ibex is* the next stage in the evolution of the relationship between the two businesses. Ibex and Kiln share a common interest in expanding the Ibex platform over time in order to extend the product range. In par ticular there are plans to leverage an online service delivery system to expand the franchise into the Spanish market.

Ibex Chairman, John Harrison, commented:"We have great respect for Kiln and the Kiln brand. I am delighted that Kiln has joined Ibex as a business partner and that they are to provide us with future under writing capacity for us to expand into the Spanish and Portuguese marketplaces. Apart from our own direct web-based offerings, we will also be able to offer Spanish Insur ance Brokers access to the Lloyd's market. In addition, our staff will have the opportunity to undertake training and career enhancementin London and at Lloyd's."

Charles Franks, CEO of Kiln, said: "This is an excellent devel opment for Kiln, and plays to the strengths of our business strategy, which is to build and nurture strong relationships with high quality distribution partners such as Ibex Insurance. We are delighted to in vest in a business like Ibex, where we know there is strong leadership and managementlocally which will continue to be fully active and to direct Ibex's development plans."

The Ibex Group

Ibex is a Lloyd's Coverholder providing a portfolio ofspecialised insurance products throughout the Iberian Peninsula for both national and international clients.

The two operating divisions of the Ibex Group are Ibex Insurance Services Limited with offices in Gibraltar and Iberian Agencia de Suscripcidn S. L. with offices in Spain.

Ibex and Iberian products are un derwritten at Lloyd's, the world's leading insurance market. The products are distributed online and through an established network of Brokers and Intermediaries throughout Spain and Portugal.

The Kiln Group ockhampton Chairman, John Young of Gibraltar do much to confirm Gibraltar as an attractive domicile. We are also delighted to be able to attract prestige clients like Brit to Rockhampton and hope by es tablishing Rockhampton here we

Kiln is an international insur ance and reinsurance underwriting group with a portfolio of specialist risks. Since 1962, it has built its business on the strength of its un derwriting and its relationships.

R J Kiln & Co Limited has four syndicates at Lloyd's and,in terms of capacity, is one of the largest agencies trading in the Lloyd's insurance market. In addition to Bermuda and the UK, Kiln has offices in Hong Kong, Singapore, South Africa and Belgium.

A recognised leader in each ofthe five main business areas in which it operates: reinsurance, accident and health, aviation, marine and special risks, and property. Kiln syndicates enjoy a security rating of'A+'(Strong)assigned to Lloyd's by Standard and Poor's.

Visit xomo.ibexinsure.com or xvxow. kilngroup.com for further informa tion.

For further information contact Chris Johnson on 58452000 or email: chris.johnson@rockJuxmpton.gi

Even empirical predictions by scientists are proved wrong or superseded, in rapid succession, by others. But at the risk of being proved wrong, and based upon what central planning by govern ment there is in Gibraltar and other global trends, here goes.

Things do not happen at the same pace as some other places in the world, but a significant change in the appearance of the Eastside should be very visible by then, so that instead of looking like a run down industrial estate in some depressed area ofeconomic decline. Devils Tower Road will be in the middle of the four-lane prestigious entry point into Gibraltar off of which will lead, to the south, a multi-storey, multi-building co ordinated complex of larger, more luxurious apartments,shops,hotels