Reinsurance News
Labuan IBFC
Ben Quah appointed CEO of Asian financial hub Labuan IBFC Inc.
2nd December 2025
Labuan IBFC Inc., an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, has announced the appointment of Ben Quah as its new Chief Executive Officer (CEO). Quah brings over two decades of experience in fintech, digital marketing, and regional business development, with a strong record ... Read the full article
Labuan IBFC welcomes new Chairman and board member
22nd May 2025
Labuan IBFC Inc., an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, has announced the appointment of Steven Choy Khai Choon as Chairman, and Dr. Aida Othman as a member of its Board of Directors. Effective 12 March 2025, both individuals have been appointed for ... Read the full article
Labuan IBFC aims to expand in reinsurance and beyond after strong growth in 2023: CEO Nuli
2nd July 2024
Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected in 2024 due to its strong regulatory framework and creative strategies, according to Datuk Iskandar Mohd Nuli, Executive ... Read the full article
Captives to remain a vehicle of choice: Sivanesan, Labuan IBFC
15th June 2023
Against a backdrop of market-hardening effects, Labuan International Business and Financial Centre (Labuan IBFC)’s captive sector continued to gain momentum with five new players and total gross premiums of USD 571 million in 2022. More than 62% of the premiums were generated from the international insurance business. “This underscores Labuan IBFC’s ... Read the full article
Labuan IBFC Inc. & QFCA to cooperate on captive insurance through extended MoU partnership
24th May 2023
Labuan IBFC Incorporated Sdn Bhd, the official marketing agency for the Labuan International Business & Financial Centre (Labuan IBFC), has renewed its Memorandum of Understanding (MoU) partnership with Qatar Financial Centre Authority (QFCA) which is responsible for the development and promotion of Qatar Financial Centre. Under the partnership, both financial centres ... Read the full article
Labuan IBFC expansion sees 18 new captives approved so far in 2021
3rd December 2021
The Labuan International Business and Financial Centre (Labuan IBFC) has charted a 28% increase in premiums for its captive business so far in 2021, an expansion that has included the approval of 18 new captives. Labuan Financial Services Authority Director General, Nik Mohamed Din Nik Musa, praised the utilisation of protected ... Read the full article
“Our recognition in Europe is growing”: Labuan IBFC’s Jaafar
14th October 2021
Farah Jaafar, CEO of the Labuan International Business and Financial Centre (Labuan IBFC), has asserted that the Centre’s “recognition in Europe is definitely growing,” following an active year for captive growth. 2020 was a busy year for Labuan captive business with 8 new captives formed, totalling 55 captives now licensed by ... Read the full article
Labuan IBFC highlights resilience despite challenging landscape
5th May 2021
The Labuan International Business and Financial Centre (Labuan IBFC) has highlighted its resilience and solid performance across sectors despite the unique challenges that 2020 brought. The Labuan Financial Services Authority was able to remain agile and respond to market needs via a set of pre-emptive temporary measures to alleviate the industry’s ... Read the full article
Labuan IBFC signs MoU with RAM Ratings
22nd January 2021
Labuan IBFC has signed a Memorandum of Understanding (MoU) to collaborate on RAM Ratings’ Labuan Entity Corporate Assessment (LECATM) service. RAM Ratings is Malaysia's premier rating agency and this agreement will see the two organisations develop, promote and facilitate the adoption of LECATM. LECATM is a new rating service for companies based ... Read the full article
Labuan IBFC reports 50% increase in licensing approvals for H1 2020
16th November 2020
Labuan International Business and Financial Centre (Labuan IBFC) has announced a 50% increase in licensing application approvals for the first half of 2020, bringing the total number of licensed entities to 800. Datuk Danial Mah Abdullah, Director-General of Labuan FSA welcomed the news, noting that, notwithstanding the challenges and movement restrictions ... Read the full article
Labuan IBFC registers seven new captives in H1
14th September 2020
The Labuan International Business and Financial Centre (Labuan IBFC) registered seven new captives in the first half of 2020, more than the entirety of 2019. These new additions brings the total number of captives registered in the jurisdiction to 56, a growth of 9.8% year-on-year. Of the seven new captives formed, four are foreign ... Read the full article
Labuan IBFC insurance profits up 44% in 2019
29th May 2020
Labuan International Business and Financial Centre Incorporated (Labuan IBFC Inc) has reported that its insurance industry increased profitability by 43.7% last year. Profits grew to US $190.5 million in 2019 mainly due to improved underwriting performance and better cost management. This was despite only modest top line growth, with total gross premiums ... Read the full article
Labuan IBFC partners with China Construction Bank
31st October 2019
Labuan International Business and Financial Centre Incorporated (Labuan IBFC Inc) has signed a Memorandum of Understanding (MoU) with a branch of China Construction Bank Corporation. The agreement with China Construction Bank Corporation Labuan Branch (CCBL) aims to promote the benefits of Labuan IBFC to Chinese companies, in addition to supporting the ... Read the full article
Axinan first Southeast Asian insurtech to secure Labuan license
21st August 2019
Singapore-based insurtech Axinan has become the first Southeast Asian company of its kind to secure a combined general and reinsurance license from Labuan FSA, the financial regulator for Labuan International Business and Financial Centre. The license, obtained via its subsidiary Axinan Labuan Limited, will allow the firm to underwrite general and ... Read the full article
Labuan IBFC expects captive growth as Asian market expands
8th August 2019
Daniel Mah, the Director General of The Labuan International Business and Financial Centre (Labuan IBFC), has praised the rise of captive insurance in the region, stating that Asia in particular shows “tremendous potential” for growth in this area over the coming years. “Risk management in the form of self-insurance or captives ... Read the full article
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