Tag: Updates

Articulated by the Chairman of Labuan Financial Services Authority (Labuan FSA) Tan Sri Muhammad Ibrahim, during his speech at the Labuan Industry Annual Dinner 2017 recently, when he urged the industry players and regulators to play a more contributing role in the economic development of Labuan island. Although Labuan is a known destination for financial…

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Anthony Egerton, Principal Officer at Huntington Underwriting, said regulators are driving change throughout Asia, with markets taking different approaches. Egerton spoke with A.M. Best TV at the Singapore International Reinsurance Conference. Source: http://www.ambest.com/video/MediaArchive.aspx?lid=5620314796001&vid=5633179196001

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Bank Negara Malaysia (BNM) Governor Tan Sri Muhammad Ibrahim says the time has come for a review of Labuan’s current tax framework. He said the review is not only to ensure alignment with international best practices but also confirm the continued relevance of such incentives in catalysing new growth areas. “Since the creation of offshore…

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The Labuan Financial Services Authority (Labuan FSA) wishes to announce that the Prime Minister and Minister of Finance, YAB Datuk Seri Mohd Najib Tun Abdul Razak, has approved the appointment of Encik Danial Mah bin Abdullah as the new Director-General of Labuan FSA for a three year term, effective from 3 October 2017. Encik Danial…

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By Farah Jaafar-Crossby, The Asian Captive Conference Secretariat The establishment of a captive insurance entity or any form of self-insurance requires some maturity and sophistication in terms of the company’s financial and risk management. And Asia is by no means impoverished in these areas. However, some would still go so far as to say that…

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As of the second quarter of this year, there were 43 captives established in Labuan International Business and Financial Centre (Labuan IBFC), compared to 39 at the end of last year, according to official data from Labuan IBFC. Labuan IBFC Chairman Mohammed Azlan Hashim said: “We envisage this positive trend to continue as Labuan IBFC…

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The overlapping markets of the mutual, captive and takaful industries are likely to provide an important impetus for the wider use of group captives among small and medium-sized enterprises (SMEs), Bank Negara Malaysia governor Mr Muhammad Ibrahim has said. Speaking at the inaugural Asian Captive Conference 2017 hosted by Labuan International Business and Financial Centre…

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A recent survey commissioned by the Labuan International Business and Financial Centre (Labuan IBFC) showed that the risk management and insurance community are confident that the midshore centre has the right ingredients for businesses to establish their captive insurance companies. Entitled ‘Attitudes towards Captive Insurance in Asia’, and conducted by the world’s leading captive trade…

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Captive Review has published the white paper, Attitudes Towards Captive Insurance in Asia, in collaboration with the Labuan International Business and Financial Centre (IBFC). The bespoke report was brought together by Richard Cutcher, editor of Captive Review, in response to a survey of the risk and insurance management community in Asia Pacific. It reveals some…

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In the last two decades, Labuan International Business and Financial Centre (IBFC) has evolved from an offshore to a midshore financial centre with a unique proposition. Labuan IBFC Inc CEO Danial Mah Abdullah talks about how it has remained relevant to the needs of individuals and companies beyond wealth management. Personal Wealth: Could you tell…

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