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
North Carolina captive industry sees ‘rapid growth’
19 July 2017 | Raleigh | Reporter: Becky Butcher
The North Carolina captive insurance industry experienced rapid growth in 2016, according to the state’s Department of Insurance
US agrees to sign US-EU covered agreement
18 July 2017 | Washington DC | Reporter: Becky Butcher
The US Department of the Treasury and the Office of the US Trade Representative have revealed their intent to sign the bilateral agreement between the US and EU regarding insurance and reinsurance
Captive Alternatives hires new marketing director
18 July 2017 | Atlanta | Reporter: Becky Butcher
Captive Alternatives, the risk management consultancy, has appointed Emilie Gastley as director of marketing
NSU to launch new surety captive
17 July 2017 | Philadelphia | Reporter: Stephanie Palmer
National Surety Underwriters has raised $11.5 million in funding for the capitalisation of a new special-purpose surety reinsurance captive, the National Fidelity Reinsurance Company
New chief underwriting officer at Tokio Millennium Re
17 July 2017 | London | Reporter: Stephanie Palmer
Tokio Millennium Re has appointed Brian Secrett as chief underwriting officer and a member of the executive committee, effective 1 October
Civil swaps Crawford for Cunningham Lindsey
13 July 2017 | London | Reporter: Becky Butcher
Cunningham Lindsey, a loss adjusting and claims management firm, has appointed Sarah Civil as corporate risks and specialist practice groups director, effective 1 September
Risk Strategies snaps up employee benefits duo
13 July 2017 | Boston | Reporter: Becky Butcher
Risk Strategies Company has welcomed Kate Genovese and Pauline Sobelman to its employee benefits practice group