^{Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO of Labuan IBFC Inc. and Julie Ng, CEO of RAM Ratings with panellists at the jointly hosted event​}


This collaboration arises from RAM’s LECA^® rating service for credit and performance evaluation of Labuan IBFC licensees
 

KUALA LUMPUR, May 16 (Bernama) -- RAM Rating Services Berhad (RAM Ratings), Malaysia’s premier rating agency, and Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.), the official marketing agency for Labuan International Business and Financial Centre (Labuan IBFC) yesterday hosted an event on self-insurance structures and solutions in Labuan IBFC, Asia’s premier international financial hub. Titled Setting Up a Labuan Captive for Self-Insurance, the event matched delegates from corporates in Malaysia and representatives of the jurisdiction to discover the advantages of captive incorporation in Labuan IBFC.
 
In his welcome address, Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO of Labuan IBFC Inc. highlighted the potential of Labuan captives as an effective and cost-effective risk management tool. “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,” Datuk Iskandar elaborated. Labuan IBFC’s captive market began with Malaysian-based corporates, with the market registering USD624.6 million in total gross premiums in 2023, an all-time high premium volume recorded over the last five years. Today, the jurisdiction hosts over 69 captives, underscoring its position as a leading captive hub in the Asian region.
 
A panel discussion convened experts from event sponsors Brighton Management Limited and Etiqa Offshore Insurance (L) Ltd, and spokespersons from the Labuan International Insurance Association (LIIA) and captive owners. Insightful perspectives on captive suitability and a roadmap for selecting captive options and addressing potential challenges were discussed. RAM Ratings launched its bespoke service (Labuan Entity Corporate Assessment, LECA^®) for Labuan IBFC licensees in 2021, which provides ratings for financial institutions, captives and service providers. Stakeholders benefit from the transparency and independent opinion of financial soundness and performance of companies assessed by RAM Ratings.
 
“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. We look forward to continuing our support of Labuan IBFC via our service offerings,” said Julie Ng, RAM Ratings’ CEO.
 
The event attracted over 120 delegates in total. For more information on Labuan IBFC captive solutions, visit this link. Click here for frequently-asked questions on LECA^®.  


SOURCE : Labuan International Business and Financial Centre (Labuan IBFC) 

FOR MORE INFORMATION, PLEASE CONTACT:
RAM Ratings
Name : Joanne Kek
Tel : (603) 3385 2520
Email : joanne@ram.com.my

Name : Sakinah Ariffin
Tel : (603) 3385 2500
Email : sakinah@ram.com.my 

Labuan IBFC
Name : Lalitha Sivanesan
Tel : (603) 2773 8984
Email : lalitha@libfc.com

Name : Nadia Shariff
Tel : (603) 2773 8979
Email : nadiashariff@libfc.com

--BERNAMA