Kuala Lumpur
16 May 2017
Reporter: Becky Butcher

Labuan to host Asia Captive Conference


The Labuan International Business and Financial Centre and Labuan International Insurance Association (LIIA) are set to host an Asia captive conference on 16 and 17 August.

The conference, titled De-Risking Asia: The Growing Role of Self-Insurance, is aimed at enhancing the awareness of the role of self-insurance, with a specific focus on captives in Asia.

One of the highlights of the conference is expected to be a keynote speech from the governor of Bank Negara Malaysia, Datuk Seri Muhammad Ibrahim.

The conference will also cover various key areas in risk management, including insurtech and blockchain, and the effects of base erosion and profit shifting and tax transparency in business, as well as dedicated sessions on captives, including a case study on an existing captive.

Labuan IBFC CEO, Danial Mah Abdullah said: “The Asian market for captive is relatively unexplored and the potential for growth is immense. The penetration level is low at the moment with only 2.3 percent out of the total numbers of 6,939 captives established worldwide and we believe the Asian captive market will continue to grow at a steady pace.”

“The Asian corporations are viewing captives as a viable alternative of risk management tool and the number who appreciates this concept is growing.”

“While many companies will continue to depend on traditional insurance, those with the know-how will explore greater business opportunities and risk management options through captives, especially when commercial premium rates make standard insurance untenable.”

LIIA chairman Raymond Wong Shu Yoon added: “Captives are a unique concept of self-insurance that allows corporations and businesses to enjoy greater protection with the flexibility of managing them to suit their needs. Naturally, this could be an attractive and cost-efficient business solution for many.”

More news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
AIG to acquire Validus
22 January 2018 | New York | Reporter: Ned Holmes
AIG has agreed to acquire all outstanding common shares of Validus, the provider of reinsurance, primary insurance and asset management services, in a deal worth $5.56 billion
South Carolina welcomes 15 new captives
19 January 2018 | Charleston | Reporter: Becky Butcher
The South Carolina Department of Insurance has licensed a total of 15 new captives in 2017
A.M. Best withdraws SARRG ratings
19 January 2018 | Oldwick | Reporter: Ned Holmes
A.M. Best has withdrawn the credit ratings of SARRG, after the company requested to no longer participate in the rating agency’s interactive rating process
Regions Insurance promotes Mike Breedlove
19 January 2018 | Alabama | Reporter: Ned Holmes
Regions Insurance has appointed Mike Breedlove as its new executive vice president of property and casualty operations
Advantage opens Vermont office
18 January 2018 | Vermont | Reporter: Ned Holmes
Advantage Insurance has opened a new office in Vermont to support its growing captive insurance services business
Tennessee captive premiums exceed $1 billion mark in 2017
18 January 2018 | Nashville | Reporter: Ned Holmes
Tennessee-domiciled captive insurance companies exceeded $1 billion in written premiums in 2017 for the first time, according to year-end figures from TDCI
JLT IM hires new senior account manager
17 January 2018 | Vermont | Reporter: Ned Holmes
JLT IM has appointed Jocelyn Lyman as a new senior account manager