UBIBET
Kindred Group plc, ultimate owner of local firm 32Red, has signed a two years extension of its partnership with the world’s best chess player, Magnus Carlsen through its flagship brand Unibet.
The Group also extends its sponsorship of Offerspill, Norway’s largest chess club. Both sponsorships will promote and support Kindred’s long-term ambition to reach zero per cent revenue from harmful gambling by 2023.
“We see great potential in engaging the best chess player of all time, and the world’s highest-ranked chess player, as a global ambassador in the fight to combat problem gambling,” said Nils Andén, Chief Commercial Officer, Kindred Group. “It is also natural for us to involve Offerspill, Norway’s largest chess club in our work. This partnership is an important contribution to raising awareness of chess as an exciting global sport, while also engaging in the local community in Norway.”
“Just as I have set a hair-raising goal of becoming the first chess player in the world to reach 2,900 rating points, Kindred, as the first global gambling operator, has set itself an ambition of zero revenue from customers with harmful gambling behaviour. This is an ambition I would like to contribute to achieving and a message I am happy to support,” says Magnus Carlsen, five-time World Champion.
“In top sports, it is about pushing the boundaries, but at the same time, you have to know your limitations and know when to stop. The same thing is important when gambling; you need to stay in control and know when to stop,” added Carlsen.
In 2014, Unibet was the first gambling operator to introduce odds on chess, at the same time as Magnus Carlsen defended his World Cup title for the first time.
Minister for Tourism, the Hon Vijay Daryanani MP, recently hosted a Gibraltar marketing event in Edinburgh.
To coincide with the launch of the summer schedule of the EasyJet flight to Edinburgh, travel agents and the local Scottish press gathered to listen to what Gibraltar had to offer.
The Minister addressed the guests and spoke of the success story during COVID-19 and how we had managed to make Gibraltar a safe destination for travel. He also showcased the tourism product in Gibraltar and all the different things one could do when visiting.
Minister Daryanani, said, “It was important to organise this event. The Edinburgh route is still in its infancy so EasyJet and I decided that it would help promote the route. It has created a lot of interest with many travel agents now intending to push Gibraltar as a city break. We live in an extremely competitive market and these bespoke marketing events is the way forward”.
Instech London
Gibraltar Finance participated in the InsTech London event “From MGA to Full Stack Insurer” at the Steel Yard in the City of London in late March.
Gibraltar Finance was represented by Senior Executive, Michael Ashton, who presented on “What you need to know about becoming a Gibraltar insurer”. Mr. Ashton was supported by Tim Haynes, Senior Executive, who works for Gibraltar Finance from its London Office.
The bluechip event was attended by over 200 insurance and insurtech professionals. InsTech London, which was founded in 2015, identifies and promotes the use of the best technology, data and analytics within insurance and risk-management around the world. It has a network of over 20,000 people who work for insurers, brokers, consultants, investors and technology companies from start-ups to established global enterprises.
Minister for Digital and Financial Services, Albert Isola MP, commented, “To date the only two UK insurtechs to have established their own insurance companies have both done so in Gibraltar. Over the past 20 years Gibraltar’s financial services regulator, the Gibraltar Financial Services Commission (GFSC), has authorised many new insurance start-ups and in more recent years fintech start-ups including DLT providers, a digital bank and other technology led businesses.
“Gibraltar has unique access to the United Kingdom’s financial services market. When combined with the experience of both insurance start-ups and financial technology start-ups this creates a compelling proposition for insurtechs to consider Gibraltar as a home for their underwriting platforms.
“We expect to support more established insurtechs as they plan to incorporate their own insurance companies but also earlier stage insurtechs wishing to establish managing general agents (MGAs) in Gibraltar.”
DUAL FUNDS LAUNCHED
HM Government of Gibraltar has introduced new legislation that establishes a dual funds regime for Experienced Investor Funds (“EIFs”).
Gibraltar is now in the position to maintain its long established AIFMD compliant funds management regime (which has direct access to the United Kingdom) whilst also providing the option for certain EIFs to opt out, safely, of this regime when targeting global audiences. In addition, the new legislation (which consists of two sets of amending regulations) also enhances and strengthens the EIF legislation.
Albert Isola, Minister for Digital and Financial Services said, “This is yet another example of the public/private sector partnership which brings together the Minister for Financial Services, the Gibraltar funds and investments association and the regulator; in developing new product lines that are fit for today’s sophisticated global investors.”
