Captive Review to present Asia white paper at Labuan conference

The Labuan International Business and Financial Centre (Labuan IBFC) and Labuan International Insurance Association (LIIA) will host a two-day captive conference in August.

The Asian Captive Conference will be held in Kuala Lumpur on 16 and 17 August and will include a presentation from Richard Cutcher, editor of Captive Review, on Attitudes towards Captive Insurance in Asia.

Captive Review has conducted an in-depth survey of a range of stakeholders in the region’s commercial insurance and captive sectors in a bid to analyse the state of play.

Cutcher will be presenting the findings of the White Paper at 10.45am on Day One.

The two-day conference will also include a panel discussion on the various captive structures available – single parent, group and cell companies – as well as sessions on feasibility and captive case studies.

Michael Velten, of Deloitte, will provide an Asian perspective on the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (Beps) project.

“The Asian market for captive is relatively unexplored and the potential for growth is immense,” said Danial Mah Abdullah, CEO of the Labuan IBFC. “The Asian corporations are viewing captives as a viable alternative of risk management tool and the number who appreciates this concept is growing.

“While many companies will continue to depend on traditional insurance, those with the know-how will explore greater business opportunities and risk management options through captives, especially when commercial premium rates make standard insurance untenable.”

Other speakers at the conference include Steve Tunstall, general secretary of Pan-Asia Risk and Insurance Management Association (PARIMA), George McGhie, from Willis Towers Watson’s global captive practice, and Kelvin Wu, group risk and insurance manager at International SOS.

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