Datuk Iskandar Mohd Nuli, CEO of Labuan IBFC, emphasises the potential of Labuan captives as an effective and cost-effective risk management tool, while speaking at an event about self-insurance structures and solutions in Kuala Lumpur.
The event, co-hosted by RAM Ratings, convenes delegates from corporates in Malaysia and representatives of the jurisdiction to explore the advantages of captive incorporation in Labuan IBFC.
In his welcome speech, Mohd Nuli states: “Captive insurance is well positioned to cater for the changing operating landscape by providing tailor-made insurance policies, while having direct access to the global wholesale reinsurance market to meet non-conventional risks.”
In the panel discussion, experts debate perspectives on captive suitability, a roadmap for selecting captive options, and potential challenges.
Julie Ng, CEO at RAM Ratings, says: “This event has been an opportunity to exchange ideas, share knowledge and foster deeper connections between RAM, Labuan IBFC and the stakeholders of the captive community in Labuan IBFC.
“We hope to contribute to the long-term growth and governance of Labuan IBFC via our ratings, which apply RAM’s hallmark of analytical rigour and trusted insights.”
Labuan IBFC, located off the coast of Borneo, Malaysia, has been operating as an international business and financial hub for almost 35 years.
The jurisdiction is now home to 69 captives and recorded a total gross premiums of US$624.6 million in 2023.
