Labuan IBFC: A Growing Domicile for European Risk Owners

Captives and self-insurance vehicles are enjoying growth and acceptance by the mainstream reinsurance and risk management industry, spurred on by the ever-hardening premium rates globally.

Whilst self-insurance solutions are not new in Europe, developments in European solvency requirements and global parameters in taxation, have heightened interests from European based risk owners seeking Asian solutions for Asian based risk profiles.

In this respect, Labuan IBFC as the only domicile in Asia with cell captives has been gaining recognition as a viable jurisdiction. This is further strengthened by its reputation as a well-regulated midshore wholesale risk intermediation centre.

Join us on Tuesday, 14 September 2021 at 9.00AM GMT +1 (4.00PM GMT +8) to learn more and join the conversation.

Speakers
  • Annie Undikai

    Annie Undikai is the Founder and Group Managing Director of Brighton International Group Limited and has over 20 year of professional career in the insurance industry.

    The overall increased in the awareness on the many benefits of captives as a risk management solution is expected to drive new captive formations, especially in Asia. In tandem with this changing business landscape, Annie set up a wholly-owned PCC aimed at providing prospects an easy and low-cost route into captive for flexibility in insurance coverage and access to the reinsurance market. Established in 2020, Park Lane PCC Limited is a Labuan Captive Insurer with Takaful Window and licensed under the Labuan Financial Services and Securities Act 2010 vide a Labuan Protected Cell Company.

    Annie graduated with a BA (Hons) in Accounting and Computing from the University of Kent, UK. She joined Hanafiah Raslan & Mohamad as an auditor in 1983 and moved to Evergloss Group of Companies three years later to take on the position as its Group Financial Controller.

    She carved out her career in the insurance industry when she joined Etiqa Offshore Insurance (L) Ltd as the Head of Operations and Marketing in 1998. After a brief stint at Asian Runoff Management Services Sdn Bhd, Annie made the bold decision to branch out on her own and founded Brighton Management Limited in 2005.

  • Farah Jaafar

    Farah is the Chief Executive Officer of Labuan IBFC Incorporated, a wholly owned subsidiary of Labuan Financial Services Authority, the statutory Regulatory Authority for Labuan International Business and Financial Centre, operating under the purview of Ministry of Finance, Malaysia. Labuan IBFC Incorporated serves as the jurisdiction’s official market development agency.

    A seasoned strategic communication, market development and financial services professional, she brings with her experience spanning more than 25 years in wholesale financial services, putting her in good stead to develop Labuan IBFC as Asia’s go-to mid-shore wholesale financial intermediation centre.

    Formerly attached to the Asian Institute of Finance and Bursa Malaysia (Malaysia’s national stock exchange), Farah has served in numerous senior market development and strategic communications roles.

    She has also represented the Association of Stock Broking Companies Malaysia, a nationwide industry led lobby group representing Malaysian stockbrokers during the demutualisation exercise of the national exchange, allowing her a unique hands-on experience surrounding high strategic level issues relating to multiple stakeholder management, eco-system curation and long-term strategic business strategy.

    Passionate about equality, financial inclusion and win-win partnerships, she strongly believes that “a rising tide lifts all boats”. Farah has an LLB (Hons) from Sheffield University, United Kingdom.

  • Oliver Schofield

    Oliver brings more than 30 years of captive and ART experience to his clients. He has held a number of executive positions in the global captive and ART sectors since the mid-1980s. He started his career at Alexander Howden in 1986 before moving to Aon in 1996, to RKH Reinsurance Brokers in 2012, to RFIB Group in 2016 before joining Principal Re Limited’s Captive & ART consulting team in 2018.

    His particular area of focus has been the incorporation and reinsurance of captives, cell captives and association captives and a myriad of ART structures for a range of different industries from across the world. Specifically in Asia, he has worked with clients in China, Indonesia, Taiwan, Singapore, Malaysia, Thailand, Vietnam and the Philippines. Oliver has been a speaker at numerous captive and ART industry conferences and has published on topics including the Global, Asian, European and American insurance and reinsurance markets, Captives and ART.

    Oliver graduated from the University of Southampton with a BA (Joint Honours) in French and English.

  • Ridzuan Ariffin

    Ridz is currently the Strategic Solutions Director of Principal Re. He is an industry veteran with more than 40 years in insurance, having started his insurance career in London with Bland Payne (a Marsh legacy company). After 13 years in the London market, Ridz returned to Malaysia into a variety of roles in broking, claims management and as an MGA.

    Ridz has spent the last 12 years in Indonesia with Marsh initially as Energy Practice Leader. Later, following realignment of Marsh’s Indonesian business operations, he headed up a newly established reinsurance broking entity as President Director responsible for the development of all facultative reinsurance as well as oversight of Guy Carpenter’s Indonesian treaty business.

    Ridz is a Fellow of the Malaysian Insurance Institute.

Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
Ooops!
Generic Popup