Labuan Financial Services Authority's (LFSA) operating income for the fiscal year ended 31 December 2011 rose to RM26.9 million from RM23 million in the same period 2010.
LFSA is the regulatory body to spearhead and coordinate efforts to promote and develop Labuan International Business and Financial Centre (LIBFC). Labuan is a federal territory in East Malaysia
Chairman Tan Sri Zeti Akhtar Aziz said supported by its strategic location and financial infrastructure, the business activity and financial service sectors in the LIBFC continued to record positive growth in the insurance, reinsurance and captive sectors.
The insurance sector's total premiums rose by 33 percent to $1.6 billion from $1.2 billion in 2010 and total assets grew by 16.1 percent to $3.6 billion from $3.1 billion.
