Lloyd’s of London, the world’s leading insurance market ,which writes premiums totalling £18bn globally, has appointed Iberian Claims Service S.A. as the Lloyd’s motor claims representative for Spain.

ICS will be directly responsible for settling motor liability claims on behalf of all Lloyd’s motor underwriters for Spanish motor policies issued on a freedom of services basis.

ICS manage insurance claims for several Lloyd’s syndicates in the Iberian Peninsula and also on behalf of locally based Ibex Insurance, Professional TraveI Insurance Company Ltd and Malta-based Middlesea Plc. ICS is managed by David Whitmore, a locally qualified barrister. The company has already successfully settled over 50,000 motor claims in Spain and Gibraltar.

“The appointment is an endorsement of the high standards of service provided by ICS and recognition of our professionalism, not only throughout the Iberian Peninsula, but also within the Lloyd’s market. ICS has worked hard to develop its infrastructure and to establish a country wide network of engineers, doctors, lawyers and other industry professionals.”

ICS is currently based in Sotogrande and employs 25 members of staff. However, there are plans to expand the business in Madrid and Barcelona as well as Portugal following this appointment. A Gibraltar office may also figure in future plans, as David explained:

“Efficient claims handling is key to the success of any insurance product and with Gibraltar expanding as a finance centre we are reviewing the possibility of setting up in Gibraltar to service insurers based here”

Roger Bickmore, director of business development for Lloyd’s managing agent, R J Kiln & Co Limited, said: “We have enjoyed an excellent relationship with ICS for a number of years and have every confidence in their ability to provide a top-rate claims service for the Lloyd’s market in Spain”.

Paul Farrelly, Deputy Claims Manager for Amlin Plc, said: “ICS have worked hard in recent years to build a competent, professional team alongside developing a state of the art computer system, to take claims service to a higher level. We believe their appointment as Lloyd’s motor claims representative for Spain is reward for this hard work and we firmly believe that that they will continue to represent the Lloyd’s brand in a dedicated and professional manner”

The Association of Pension Fund Administrators (APFA) was recently formed in Gibraltar to provide a forum to promote best practice amongst local firms that are involved in the administration and operation of pension schemes.

David Erhardt of STM Fidecs Life, Health & Pensions Ltd has been appointed Chairman, Steven Knight of Castle Trust & Management Services Limited Vice Chairman, and Jane Caulfield of STM Fidecs, Honorary Secretary.

David Erhardt commented “We are keen to maintain the reputation of Gibraltar as one of the leading financial centres. Gibraltar has seen a rapid increase in the demand for pension schemes and related services and we are keen to ensure that we fully comply with all necessary standards and regulations, both locally and internationally. We need to self-regulate where necessary and liaise with Government bodies both inside and outside Gibraltar in a seamless way.”

Hassans, Capurro Insurance, London and Colonial and ECS are the companies who have currently joined STM Fidecs and Castle Trust as members of the Association and have participated in the initial meetings regarding the setting up of the Association with great enthusiasm.

Eighty two young people are to be presented with their Duke of Edinburgh’s Awards at a ceremony on Thursday 3rd September 2009 at the Convent. His Excellency The Governor, Sir Robert Fulton, as Patron of the Award in Gibraltar, will present the Bronze and Silver Awards at a ceremony which will be attended by families, Award leaders, sponsors and many others.

The young people receiving their Awards have, over the last 12 months, been involved in a wide variety of activities geared towards completing the requirements of the Award Programme.

The Award Programme gives young people aged 14-25, whether able-bodied or with special needs, an opportunity to experience challenge and adventure, to acquire new skills and to make new friends.

The Programme comprises four sections. The Service section intended to develop a sense of community and social responsibility. The Adventurous Journey aims to cultivate a spirit of adventure and discovery and an understanding of the environment. The Skills section develops, cultural, vocational and practical skills and the Physical Recreation section encourages improved performance and fitness. The Gold Award has an additional section, the Residential Project, which sees participants undertake some form of purposeful enterprise whilst living away from home for a week.

To complete the Service requirements the recipients have, amongst other things, been involved with helping the elderly at Mount Alvernia, learning about fire prevention and basic fire fighting with the Fire Brigade, training for the Sports Leadership programme and carrying out first aid training with the St. John Ambulance.

For their Skills the participants have learned about and practised drawing and painting, photography, cooking, gardening, care of horses, drama, information technology, reading and singing, you name it they have probably done it.

The participants have all completed a physically challenging hike as part of the Expedition Section’s requirements and this has seen them hike either 24 or 48 kilometres depending on which Award they are receiving. The participants have also been heavily involved in sports. For Physical Recreation there has been involvement in netball, volleyball, basketball, badminton, swimming, table tennis, 10 pin bowling, horse riding and dance.

All these varied activities require the support of a small team of dedicated volunteer Award leaders who make all the arrangements and also take the participants on their expeditions. In addition there are countless volunteers who give their time to teach, supervise and assess the young people in their chosen activities. To all of them the National Award Council owes a debt of gratitude and thanks them for their untiring efforts and support.

Naturally, without the participation of the young people there would be no Award Ceremony and therefore the Council, leaders, supporters and families wish to congratulate the following on their achievements;

Bronze

Ayesha Abrey, Charlie Abrines, Elena Mico Aldeguer, Jose Pablo Bolado Santamaria, Nicola Bosio, Hannah Brown, Nicholas Calamaro, Georgina Cassar, Rowan Charleson, Nicola Ramos Clarkson, Elizabeth Cotter, Jessica Craig, Guy A V Dumas, Colin Fabre, Elizabeth Ferrary, Marayah Galia, Alex Gardener, Doyle George Gaskin, Lilly Gomez, Lucy Gregory, Holly Greig, Ayrton Hoole-Walker, Josh Turner Hunt, Leyla Karim, Phoebe Kelly, Kasmeen Khaira, Noelle Laguea, Emma Lavarello, Marta Laver Valero, James Mervyn Leeming, Alex Licudi, George Macquisten, Chloe Maloney, Maria Antonia Mier, James Andrew Mifsud, Joshua Munday, Johann Gomez Netto, Mariana Norton, Robert O’Malley, Camille Maisey Obermann, Victor Ovchynnykov, Laura Palao, Michael Posso, Megan Ramagge, Liam Reyes, Francesca Russo, Jade Sanchez, Sebastian Saramiento, Harvey Saunders, Jake Saunders, Kristina Small, Linda Svendsen, Alexandra Triay, Amy Valverde, Carlos Toribo Vasquez, Louise Vinent, Lewis Woodall

Silver

Michael Azopardi, Grace Baker, Adon Baldachino, Joseanne Bear, Grace Culatto, Alexandra Edwards, Kirsty Ferrary, Patrick Gill, Jeremy Gomez, Jennifer Harris, Jasmine Martinez, Jordan Measey, Kathleen Murphy, Gabriella Peralta, Samantha Picardo, Thomas Ramagge, Jeroen Rodriguez, Gabriella Russo, Lucy Russo, Jamie Sanguinetti, Lisa Sciacaluga, Jonathan Roger Smith, Frida Svendsen, Alejandro Vasquez, Alexandra Vaughan

Many of the recipients have already commenced their activities towards their Silver and Gold Awards and we wish them every success for the future.

The local Award Council would like to express their thanks to His Excellency The Governor Sir Robert Fulton for allowing the Award to take over his home for the ceremony and also his staff for working towards making the event a success.

As part of a recent strategic review undertaken by The Royal Bank of Scotland International (RBS International), the Bank has announced plans to expand the NatWest franchise in Gibraltar.

Marvin Cartwright, Gibraltar Country Head explained “Currently 80% of our customer base banks with NatWest, and to meet the needs of this growing market and to assist in providing customer excellence, we have taken the decision to re-brand our premises at Corral Road to NatWest. All RBS (Gibraltar) Limited customers will be offered the opportunity to transfer their banking arrangements to NatWest under the same terms and conditions they presently enjoy, but with the added benefit of additional products and services, and the convenience of two branch locations. We recognise that to provide the world class service which our customers expect we need to expand, and with the re-branding of Corral Road to a full-service NatWest branch we can provide all our customers with a choice of locations in which to undertake their banking.

“This decision demonstrates RBS International’s continued commitment to Gibraltar and gives us the unique status of being the only Bank with two full service Branches. This change will complement the significant investment the Bank has recently made to both its premises at Line Wall Road and its ATM network which has recently increased to nine.

“While we are excited to move forward with the single brand of NatWest in Gibraltar, we are also committed to providing choice and minimum disturbance to our RBS customers, whom we will seek to transfer over to our NatWest Banking Systems. This transfer will provide both our RBS personal and corporate customers with an enhanced range of products and services such as internet and telephone banking, together with improved debit card usage and capability”.

The Bank anticipates commencing the programme of re-branding and migrating existing RBS (Gibraltar) Limited customers to NatWest Gibraltar in August, and aims to have it completed by 31 December 2009. A team of advisers will be available to manage the process throughout, ensuring that inconvenience to customers during the migration is kept to a minimum.

As well as providing benefits for all customers, the move underlines the Bank’s commitment to Gibraltar as it seeks to strengthen and consolidate its local business, and focus its customer proposition and local growth plans around the NatWest brand. The project will not result in any job losses.

Price Waterhouse Coopers has published its annual easy to follow guide to the Gibraltar tax system that incorporates all the changes announced in the June budget.

The guide provides a summary of Gibraltar’s tax rates, the main areas of Gibraltar taxation and also outlines the allowances available.  The guide also provides historical tax rates and allowances for ease of year on year comparison.

The guide is available from PWC Gibraltar. Telephone: + 350 200 73520 or it can be downloaded at: www.pwc.gi

Research and Planning are the Priorities in business start up’s says, Michael Borge, Business Manager, NatWest.

Many considering a business start up will no doubt have concerns about their prospects for success in the present economic climate. However, the same principles apply today as they would in more optimistic times.

It should always begin with research. Successful entrepreneurs understand the marketplace in which they are competing. They decide on a product or service and have to convince themselves that there is a need for it in the market. There are a number of tough questions to ask such as will they be able to sell what they produce and will they make a profit once costs and overheads are taken into account?

A thorough appreciation and review of the competitors in the market is required and once it has been established that the product has a competitive edge, work will still be required to make potential customers aware of the product or service. The cost of marketing and promotion has to be included in the planning process. Alongside this, there are overheads such as renting premises, employing staff, IT equipment and other business costs, to build into the equation.

Cashflow projections can only be an estimate and will involve some guesswork but they are nevertheless essential. Entrepreneurs should be realistic in their assessment of their new venture, especially in the current climate.

At some point in the start up process, the raising of finance will need to be considered.

There are a number of options including a bank loan, a commercial mortgage for premises, leasing or hire purchase. High Street banks will inform you on the options and how to get the most from them, applicants seeking funding should come well prepared.

The bank adviser is likely to be impressed if its clear that research has been undertaken and a considered business plan has been prepared. Discussions are required on whether the applicant is intending to invest his or her own money in the venture, whether there is a need for a start up loan and if so, the scale of it and the repayment programme that will be required.

There is considerable advice available also from a variety of organisations and there are specialist bankers to talk to who have experience of the marketplace. It’s a combination that should help point the would-be entrepreneur in the right direction before opening the doors on a new business.