August 2019
INSIGHT
PLUS
Direct from Asia Pacific's Leading
Midshore Business and Financial Centre.
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
FEATURED
Read on for key takeaways from the recent joint conference held by Labuan IBFC and Swiss Re Corporate Solutions on why captive insurance is becoming a crucial risk management tool
HIGHLIGHTS
CEO'S MESSAGE
Dear All
Partnerships and growth continue to feature this month – especially with the successful conclusion of our joint conference with Swiss Re Corporate Solutions. The great turn-out, indicating the increasing interest in captives as a risk management tool, correlates with the upwards trajectory Labuan’s captive insurance business has shown this year.
The jurisdiction has garnered a 12.8% increase to US$288 million in gross written premiums as of June 2019, compared with US$255 million in the same period last year. In fact, Labuan IBFC already has four captive formations by mid-year, which should put us well on track especially when one considers we licensed a total of six for the full year in 2018.
Setting captives aside, we are excited to be back in Singapore for GTR Asia 2019, the largest international gathering for the trade, commodity and treasury community, from 3-4 September. As a full-service jurisdiction, banking lines are key to our attractiveness as an IFC, be it for standard account opening to structured trade financing and loan bookings. Home to more than 50 banks already, we strive to not rest on our laurels, so watch this space for the latest developments in Labuan IBFC’s banking parameters.
I do hope you enjoyed this edition; do email [email protected] if you have suggestions or would just like to touch base.
Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc
Partnerships and growth continue to feature this month – especially with the successful conclusion of our joint conference with Swiss Re Corporate Solutions. The great turn-out, indicating the increasing interest in captives as a risk management tool, correlates with the upwards trajectory Labuan’s captive insurance business has shown this year.
The jurisdiction has garnered a 12.8% increase to US$288 million in gross written premiums as of June 2019, compared with US$255 million in the same period last year. In fact, Labuan IBFC already has four captive formations by mid-year, which should put us well on track especially when one considers we licensed a total of six for the full year in 2018.
Setting captives aside, we are excited to be back in Singapore for GTR Asia 2019, the largest international gathering for the trade, commodity and treasury community, from 3-4 September. As a full-service jurisdiction, banking lines are key to our attractiveness as an IFC, be it for standard account opening to structured trade financing and loan bookings. Home to more than 50 banks already, we strive to not rest on our laurels, so watch this space for the latest developments in Labuan IBFC’s banking parameters.
I do hope you enjoyed this edition; do email [email protected] if you have suggestions or would just like to touch base.
Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc
EVENTS
READING LIST
