In the realm of Labuan Insurance Licenses, offerings are categorised into Labuan insurance business and Labuan insurance-related business. Labuan insurance business encompasses general, life, reinsurance, Labuan takaful and retakaful windows, and captive insurance.
Meanwhile, those seeking a Labuan insurance-related business can engage in activities as a Labuan insurance broker, Labuan insurance manager, or Labuan underwriting manager. The activities within the Labuan insurance-related business are regulated by the Labuan Financial Services and Securities (Amendment) Act 2022 (Act A1654).
Labuan offers an array of insurance licenses within the landscape of both conventional and Islamic insurance.
LABUAN INSURANCE BUSINESSES
Labuan General Insurance covers non-life insurance, encompassing accident, medical, surgical, and hospital expenses insurance.
Labuan Life Insurance is associated with policies dependent on the termination or continuation of human life.
Labuan Reinsurance offers two types:
- Conventional Labuan Reinsurance
- Labuan Retakaful (Islamic Labuan Reinsurance).
Reinsurers assume part of the liability under the original contract of another insurer.
Labuan Captive Insurance provides risk mitigation services for its parent company or a group of related companies, and insures benefits from their underwriting profits.
LABUAN INSURANCE-RELATED BUSINESSES
Labuan Insurance Brokers can conduct direct insurance and reinsurance business arrangements for insurers seeking such services.
Labuan Insurance Managers provide managerial and administrative (backroom) services to Labuan (re)insurers and captive owners.
Labuan Underwriting Managers provide underwriting and administrative services to Labuan (re)insurers and captive owners.
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About FAA Advisory Limited
Comprising a team of seasoned professionals well-versed in Labuan's business landscape, FAA Advisory Limited extends a comprehensive suite of services covering corporate services, private wealth management, and licensing compliance administration, all tailored to meet the unique needs of our clients.
At FAA Advisory Limited, our expertise lies in delivering Labuan insights that facilitate business expansion, simplifying intricate processes, and offering valuable information to guide you through various facets of your journey.
Choose FAA Advisory as your trusted partner in navigating the dynamic business landscape of Asia. With our commitment, we are your gateway to success in Labuan and beyond.
Email: advisory@finarkasia.com | Phone number: +6010-931 6678