Rocking the market

Gibraltar has earned its spurs as an offshore jurisdiction by tripling the number of (re)insurance companies it accommodates in five years - and all while under threat of being closed down by the European Union.During the past few years, this plucky little British outcrop has been lining itself up to rival Dublin as the place to set up a European base for insurance companies.In 2000, the small tax-free jurisdiction decided it needed to expand its financial sector - and insurance has proved t