In a world first, strategic risk consultancy RISCS has assisted a UK-headquartered business to become the first ever to establish a new cell captive in Labuan International Business and Financial Centre (Labuan IBFC).

In partnership with Brighton Insurance Management, the establishment is fine testament to the open door nature of Labuan. Captive Review understands that RISCS are grateful for the assistance of the team at the Labuan Financial Services Authority in guiding their client in achieving a licence within their timeframe and budget.

The cell’s establishment in Labuan is the third world-first for RISCS in the past eight months. The other achievements have been the first ever conversion of a cell captive to a full captive while simultaneously migrating the captive from Europe to North America, and the first ever establishment of a cell captive in Labuan IBFC for an Australian-headquartered business.

RISCS was established in 2012 and provide consultancy services to captives, brokers, corporates and underwriters. They are a domicile-neutral, independent organisation focused on making recommendations for domiciles and other solutions based on each client’s individual needs.