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Labuan FSA Requests Feedback for Consultation Paper on Insurance Capital Adequacy Framework
Labuan Financial Services Authority (Labuan FSA) is requesting feedback for its consultation paper on the Insurance Capital Adequacy Framework (ICAF). In line with its initiative for greater transparency and collaboration with wider stakeholders, the regulator is sharing its plans to develop capital standards for the Labuan insurance and takaful sectors.

 
The consultation paper broadly explains the various ICAF components and the required implementation phases, thus providing a well-planned roadmap and approach for the standards’ development in the next four years. This enables Labuan FSA to give the industry an overview prior to developing a series of relevant guidelines in the near future.

It is also in keeping with Labuan International Business and Financial Centre’s (Labuan IBFC) objective to further strengthen the insurance regulations in order to partake effectively and promote stability in the regional and international insurance business.

Written feedback on the consultation paper should be sent by Monday, 24 February 2014 to the following addresses:

By post:
Prudential Policy Development Unit
Labuan Financial Services Authority
17th Floor, Main Office Tower,
Financial Park Complex, Jalan Merdeka
87000 Federal Territory Labuan, Malaysia
Fax: (+6087) 453442

By email:
 
For the consultation paper, please refer to the attachment.

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