Labuan's captive insurance grew 13% to $288m in 1H2019

Risk management in the form of self-insurance or captives in on the rise, with four new captive insurers registered in the Labuan International Business and Financial Centre (IBFC) in Malaysia during the first half of 2019, making it the fastest growing captive domicile in Asia and bringing the total number of captives to 51. Labuan's captive insurance business has increased 12.8% to $288m in gross written premiums in June 2019, compared with $255m in the same period last year. Danial Mah, director general of Labuan Financial Services Association (Labuan FSA), said that captives remai...