Media &
 Investor Alert
For media contact details and an archive of press release, speeches and regulator updates.
Labuan FSA Issues New Guidelines on Valuation Basis for Liabilities of Labuan General Insurance and Life Insurance Businesses
Regulatory Updates
Labuan Financial Services Authority (Labuan FSA) on 1 September 2015 issued the following two guidelines, which will come into effect from the financial year beginning on or after 1 July 2016:
  1. Guidelines on Valuation Basis for Liabilities of Labuan General Insurance Business 
  2. Guidelines on Valuation Basis for Liabilities of Labuan Life Insurance Business. 

The guidelines set out prudential requirements that should be observed by Labuan (re)insurers in valuing the liabilities of their general insurance and life insurance businesses, and to ensure those liabilities are reserved at a specified level of adequacy with explicit prudential margins.

They also aim to promote a harmonised and appropriate approach for the valuation of insurance liabilities that are actuarially certified, and will serve as the basis for prudent reserving to be maintained by Labuan licensed (re)insurers.

The guidelines are attached with appendixes that provide guidance notes, workflows, and formats of the reports for submission, among others.

For the comprehensive guidelines, please refer to the attachments.

Friends of
Labuan IBFC
We would like to hear from you
Copyright © labuan ibfc
Ooops!
Generic Popup