Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.) and Labuan International Insurance Association (LIIA) will co-host the Asian Captive Conference 2023. The conference returns for its sixth year as an in-person event on 7 September at Sime Darby Convention Centre, Kuala Lumpur in Malaysia. The event, named “The Connected Risk Journey in Self-Insurance”, aims to help risk professionals navigate their journey in the changing risk landscape. This years’ conference will provide a platform for stakeholders across all segments in the global captive market. Datuk Iskandar Mohd Nuli, executive chairman cum CEO of Labuan IBFC Inc. will deliver the welcome address while En. Nik Mohamed Din Nik Musa, director general of Labuan Financial Services Authority (Labuan FSA), will officiate the ceremony. As of December 2022, the Labuan captive industry has recorded total gross premiums of US$ 570.9 million, with the market expanding at an average rate of 10.7 per cent per annum. The industry also registered 67 captives as at end-2022, which included subsidiaries of established global companies. Commenting on the figures, Labuan IBFC, says: “These achievements highlight Labuan IBFC's prominence as a leading captive hub. As such, Labuan IBFC and LIIA felt it was important to host the ACC 2023 to mark the accomplishments and to further advance captive space.”
