Reinsurance News

Labuan

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

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 targets China outreach via Tricor Group partnership

24th June 2019

The Labuan International Business and Financial Centre (Labuan IBFC) is looking to strengthen is marketing outreach and development initiatives in China via a new partnership with Tricor Group. Tricor, which is one of the leading Trust Company Service Providers (TCSP) in Labuan IBFC, will help the Centre to explore opportunities in ... Read the full article

Labuan leads captive market in Asia, with six new formations in 2018

31st May 2019

Labuan IBFC remained the leading jurisdiction in Asia for captive formations in 2018, with six new formations over the year bringing its total number of captives to 48. Farah Jaafar-Crossby, CEO of Labuan IBFC Inc., noted that the jurisdiction’s captive market growth outpaced other Asian hubs such as Singapore and Hong ... Read the full article

Labuan FSA appoints Datuk Oh Chong Peng as Chairman

25th October 2018

The Labuan Financial Services Authority has announced the appointment of Datuk Oh Chong Peng as its new Chairman, effective October 16 until February 15 2020. Peng has close to 50 years’ experience in financial and other business sectors. He is currently the Non-Executive Director of British American Tobacco (Malaysia) Berhad, Malayan Flour ... Read the full article