Labuan IBFC Inc.’s executive chairman cum CEO, Datuk Iskandar Mohd Nuli delivered the welcoming remarks at The Asian Captive Conference (ACC) 2023.
The conference, jointly co-hosted by Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.) and Labuan International Insurance Association (LIIA), was held on 8 September at the Sime Darby Convention Centre.
During the welcoming remarks, Iskandar Mohd Nuli underlined Labuan IBFC’s position as the leading captive domicile in the region. He also highlighted the jurisdiction’s adherence to International Association of Insurance Supervisors core principles and functionality as a cost-efficient operating base.
The symposium hosted 300 captive industry participants including regulators, insurance professionals, investors and professional service providers from the global captive industry.
The conference held a presentation by Labuan FSA on its newly revised captive guidelines, with provisioning for indirect insurable interest risks and the establishment of a cell via notification. The revision also featured the external rent-a-captive, a new addition to Labuan IBFC’s captive offerings.
Labuan IBFC Inc.’s executive chairman cum CEO commented: “We hope that the ACC 2023 will serve as a platform to better understand the current captive industry as well as to identify industry trends, highlight challenges and opportunities unique to the captive markets.”
