Tag: Updates

The digital disruption wave is sweeping across all industries in ways previously never imagined. With relentless rise of new technologies such as artificial intelligence, machine learning and internet of things (IoT), it dictates the growth of businesses as well as its ability to give value to its customers or clients. Simply put, business as usual…

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The captive insurance industry in Asia is experiencing encouraging growth and it’s expected to continue its upward trajectory in years to come. This recent surge in trend may come as a surprise to many upon discovering that the concept of captives has actually been in place in Asia for more than two decades. On the…

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KUALA LUMPUR: The Labuan International Business and Financial Centre (Labuan IBFC) hopes to sustain the positive trend in take-up of captive insurance in the midshore centre this year, after registering the highest growth in the region last year. Labuan Financial Services Authority (Labuan FSA) director-general Danial Mah Abdullah said a total of six captives were…

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The Labuan International Business and Financial Centre ( Labuan IBFC) has revealed that it continued to serve the growing regional insurance sector in 2017, with gross written premiums (GWP) increasing by 2.2% to US$1.4 billion. Throughout the year, 14 insurance and insurance-related new set-ups launched in the region, although the overall number did decline from…

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Technology can be a double-edged sword. It makes processes faster and easier whilst at the same time, exposes companies to new risks, especially as more and more companies interlink their processes with the Internet of Things to improve operational efficiency and effectiveness. However, more often than not, with the implementation of such technologies, organisations are…

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  We are honoured and excited to announce that we have been shortlisted for the Asia Captive Review Awards 2018 under the Captive Manager of the Year’ category, which is open to all captive management firms currently managing businesses for Asian parent companies. This award recognises excellence in all areas of captive management, particularly business…

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The use of self-insurance techniques through captives and protected cell companies is expected to expand in Asia, but education for potential corporate risk transfer sponsors needs to increase, according to the Labuan International Business and Financial Centre (Labuan IBFC). Farah Jaafar-Crossby, CEO of Labuan IBFC Inc., explained, “The self-insurance sector is a niche market and…

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While the captive insurance concept is young and showing signs of future potential in Asia, it is still unknown to many in the region.   This is according to Farah Jaafar-Crossby, CEO of Labuan IBFC, speaking ahead of the Asian Captive Conference (ACC 2018). The conference this year is jointly organised by Labuan IBFC and…

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The Labuan International Insurance Association (LIIA) and Labuan International Business and Financial Centre (IBFC) will jointly host the Asian Captive Conference (ACC) for the second consecutive year. The conference will be focused on the challenges of self insurance, covering transparency and digital disruptions. ACC 2018 aims to shed light the challenges risk managers are facing…

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In cooperation with Ernst & Young, Ginetta, and Citi Treasury and Trade Solutions, Allianz Global Corporate & Specialty has successfully implemented a blockchain prototype for a global captive insurance program. The technology aims to increase efficiency in the captive organization’s international insurance transactions by accelerating and simplifying functionalities. Simplified processes include cash payments; real-time access…

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