Peninsula Underwriting Limited (Peninsula) has launched anew Property Owners Insurance policy, designed specifically for landlords, property managers, resident associations, and commercial property owners in Gibraltar.
Backed by Allied World Assurance Company (Europe) dac,(Allied World) and underwritten locally by Peninsula, the new product combines flexible, comprehensive cover with the reassurance of a global insurer. Whether it is a single buy-to-let property or a commercial estate, the policy gives clients real choice and access to high-quality cover that reflects the needs of property owners in Gibraltar.
Tailored cover designed for Gibraltar
The new policy has been developed by Peninsula to reflect the practical needs of clients across Gibraltar’s diverse property sector.
“This is a product built for the real property risks we see every day in Gibraltar,” says Tyrone Montovio, Head of Underwriting at Peninsula. “Whether it is a landlord with one flat or a commercial estate with multiple units, we have built in the flexibility and strength that clients need without having to look outside Gibraltar for cover.”
This Property Owners Insurance policy is suitable for:
● Landlords with a single buy-to-let property
● Commercial property owners, including offices, shops, and industrial units
● Owners of a full property portfolio
● Property managers covering buildings or estates
● Residents’ or homeowners’ associations
Global strength, delivered locally
This new product is underwritten by Peninsula on behalf of Allied World, a global provider of insurance and reinsurance solutions. Allied World is a subsidiary of Fairfax Financial Holdings Limited has $6.6billion in capital, $24.4billion in total assets, and $7.2 billion in gross premiums written. All of Allied World’s rated insurance subsidiaries currently carry an AM Best rating of “A+” (Superior), a Moody’s rating of “A2” (Good) anda Standard & Poor’s rating of “AA-” (Very Strong).
How the Arrangement Works
Peninsula will act as a cover holder for Allied World, giving Peninsula the authority to underwrite policies and manage claims on its behalf. For local businesses, this means they can obtain cover from Peninsula, via one of their intermediary/broker partners, without needing to go through an overseas provider.
The collaboration focuses on delivering insurance solutions that are relevant to Gibraltar’s businesses. Whether it’s property insurance, liability cover, or specialist policies, clients benefit from Allied World’s financial strength, together with local underwriting expertise and professional service being provided by Peninsula.
An Allied World spokesperson commented: “Allied World is committed to the market in Gibraltar, and we are excited to work with Peninsula. We look forward to leveraging our technical approach to underwriting and proven track record to deliver insurance solutions for businesses in Gibraltar.”
Why this matters
This new launch builds on the successful partnership between Peninsula and Allied World, offering practical solutions for Gibraltar’s growing property sector. It allows local clients to access international-grade insurance products through a provider that understands the specific needs of the market.
Working with Peninsula means expert underwriting and claims handling are delivered locally. Clients benefit from direct access to a trusted team in Gibraltar, eliminating the need to rely on offshore providers for specialist property cover. Decisions can be made more quickly thanks to local oversight and service.
What the new Property Insurance Covers
The policy offers a wide range of optional covers under a single plan, including:
● Buildings and contents cover on an All Risks basis, with automatic extensions such as alternative accommodation, subsidence, glass breakage, and trace and access.
● Loss of rent as a result of property damage, including extensions for Legionellosis, loss of attraction, and unlawful occupation
● Machinery breakdown for equipment such as lifts
● Property Owners’ Liability
● Employers’ Liability
● Directors’ and Officers’ Liability forresidents’ associations, offering some of the widest cover and highest limitsavailable locally
● Terrorism cover
● Personal accident cover for named individuals
This flexibility allows property owners and managers to select the level of cover they need without relying on separate or fragmented policies.
What comes next
With this launch, Peninsula continues to demonstrate leadership as a Managing General Agent in Gibraltar. The addition of this Property Owners Insurance product demonstrates the company is use of underwriting authority to meet client demand, expand its offerings, and provide businesses and property owners with greater choice and reassurance.
For those managing or owning property in Gibraltar, it isa timely opportunity to review existing cover and consider a more tailored, locally delivered solution.
