Labuan International Business and Financial Centre (Labuan IBFC), Malaysia, established in 1990 provides the risk management industry a jurisdiction that is internationally recognised, boasting a business-friendly legal framework in a well-regulated and supervised jurisdiction, adhering to international standards of compliance.
Regulated and enforced by a single Regulator, the Labuan Financial Services Authority (a statutory body under the purview of the Ministry of Finance, Malaysia), Labuan IBFC operates within clear and comprehensive legal provisions, guidelines and practice notes, making it ideal for the intermediation of risk. With nearly 220 insurance and risk management licensee members, the Labuan International Insurance Association plays a pivotal role in Labuan IBFC and the jurisdiction has one of the largest and deepest risk management ecosystems in Asia.
Offering fiscal and currency neutrality as well as certainty, the jurisdiction presents a wide range of insurance, reinsurance and self-insurance structures including a comprehensive “toolbox” of a wide array of self-insurance structures. In comparison to other domiciles, Labuan IBFC has the widest range of self-insurance structures such as protected cell companies (PCC), master-rent-a-captives (MRAC), mutual captives and association captives.