Providing For Your Business Risks: Managing Systemic Risk via Self-Insurance (Tokyo) - Labuan IBFC Inc

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Providing For Your Business Risks: Managing Systemic Risk via Self-Insurance (Tokyo)

Captive insurance has long been used by companies as a means of mitigating corporate risk and retaining greater financial control via the active management of its risk premium payouts.

However, in an ever riskier global landscape, captive insurance has also been known to cluster similar risk exposures by different organisations in order to better manage the cost of managing that risk, especially in the areas of product liability and recall.

So what do captive owners need to know when evaluating their requirements for a captive insurance solution? Should Japanese corporates or industry associations start exploring an alternative risk management tools in order to better manage their risk profiles in a more cost-efficient manner?

Labuan IBFC, having been in existence for more than 25 years, is home to more than 200 licensed risk management entities (including 39 captives) and may provide you with the right solutions in Asia’s leading tax neutral, midshore jurisdiction.

SPEAKERS

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DANIAL MAH ABDULLAH
Danial Mah Abdullah is the Deputy Director-General of Labuan FSA, which is the regulatory agency of Labuan International Business and Financial Centre. He is Chairman of the Credit Risk, Investment and Risk Management Committee, Asset Management Committee and Talent Management Committee of Labuan FSA. He is also the Secretary to the Authority of Labuan FSA.
Mr Danial is the interim Chief Executive Officer of the Labuan IBFC Incorporated Sdn Bhd (marketing arm of Labuan FSA), a member of the Executive Committee of the International Islamic Financial Market (IIFM) as well as the Financial Stability Committee, alternate Board member of the IIFM, and a Board member of the Labuan IBFC Incorporated Sdn Bhd, LabuanFSA Incorporated Sdn Bhd and Pristine Era Sdn Bhd.
ANNIE UNDIKAI
With 20 years’ experience in the industry, Annie Undikai is a qualified professional accountant and a Certified Financial Planner. A Bachelor‘s Degree (Hons) graduate in Accounting and Computing Science, she gained extensive exposure in handling all aspects of accounts, taxation, investment, administration and management consultancy. She started her career with one of the top 5 audit firms and from 1997 to 2004, she joined Etiqa Offshore Insurance (L) Ltd (previously known as MNI Offshore Insurance (L) Ltd, a licensed Labuan insurer, Underwriting Manager and Insurance Manager as Head of Operations and Marketing. Prior to 1997, she was the Group Financial Controller of a shipping and transportation company.

Twelve years ago, she founded Brighton Management Limited, an independent licensed insurance/underwriting manager and specialized in providing insurance management services to insurance and insurance-related entities, including captives and now managing over 70 clients worldwide.
GOKU ANDO
Goku Ando is a consultant for Product Liability (PL) and Product Recalls of SOMPO Risk Management & Health Care Inc., a group company of Sompo Japan Nipponkoa Insurance Inc.

After his graduation from university where he studied polymer materials, he joined an automotive parts manufacturer and gained experiences of quality assurance and quality control.

He has great knowledge in Product Liability and Recall situations in both Japan and the United States, and is active in a wide range of fields including major manufacturers and trading companies
NAOYOSHI ARAKI
Naoyoshi Araki is the Representative Director at Japan Risk Specialist Limited. After he graduated from Faculty of Economics, Keio University in 1986, he started his career as the financial derivatives trader at American securities company. In 1998, after 10 years of working as the financial derivatives trader, he started working for the German reinsurance company engaging with reinsurance business, mainly focusing on reinsurance underwriting and assessment work of engineering insurance and property insurance.

In 2007 he started working for Aon Risk Specialist Limited, engaging reinsurance broking business then appointed as the President of the same company in 2008. In 2009, with the change of shareholders of the company, he became the Representative Director at Japan Risk Specialist Limited.