Asia’s Premier International Financial Hub
Asian Captive Conference 2023: The Connected Risk Journey in Self-Insurance

Steering the risk journey in an ever-shifting captive landscape

Kuala Lumpur, 8 September 2023 – The Asian Captive Conference (ACC) 2023, jointly co-hosted by Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.) and Labuan International Insurance Association (LIIA), was held today at the Sime Darby Convention Centre. The symposium witnessed the participation of more than 300 stakeholders comprising regulators, insurance professionals, investors and professional service providers from the global captive industry as well as representatives from government agencies and the media.
The involvement of more than 25 sponsors and partners served to highlight that the conference was indeed the flagship event for the captive space.
Seven informative sessions captained by industry leaders across various fields concluded that captives continue to play a crucial and ever-evolving role in enabling businesses to mitigate the spectrum of existing and emerging risks against prevailing economic conditions.
Delivering the welcoming remarks, Labuan IBFC Inc.’s Executive Chairman cum CEO, Datuk Iskandar Mohd Nuli underlined Labuan IBFC’s position as the leading captive domicile in the region, highlighting the jurisdiction’s adherence to International Association of Insurance Supervisors core principles and functionality as a cost-efficient operating base. He also underscored the significance of the conference in the global captive calendar, stating “We hope that the ACC 2023 will serve as a platform to better understand the current captive industry as well as to identify industry trends, highlight challenges and opportunities unique to the captive markets.”

The keynote address was presented by Yang Berusaha Encik Nik Mohamed Din Nik Musa, Director General, Labuan Financial Services Authority (Labuan FSA). In his speech, he highlighted Labuan IBFC’s well-regulated business environment as a key success factor to the sustained growth of the jurisdiction. He further commented, “Labuan FSA will formulate omnibus captive policies, carry out targeted marketing promotion and forge new partnerships with other global insurance markets to build on the jurisdiction’s existing strength as a leading captive centre.”
The conference kicked off with a presentation on the business and strategic risks present in self-insurance, and the mitigating measures. This was followed a robust panel discussion on how IFRS 17 regulations affect the captive industry, from mapping out the scope involved through the actual implementation. Next was a dialogue on the connectivity between risk and self-insurance, and on the use of captives to manage digital risks as well as the viability of captives to manage emerging risks in cyber and employee benefits.

The conference continued with a presentation by Labuan FSA on its newly revised captive guidelines, with provisioning for indirect insurable interest risks and the establishment of a cell via notification. The revision also featured the external rent-a-captive, a new addition to Labuan IBFC’s captive offerings.
The highpoints of this year’s ACC were two dedicated tutorials targeted separately at newcomers to the captive scene and experienced captive professionals. The basic session reintroduced captives and addressed captive-related concerns for everyone’s benefit while the advanced session highlighted the associated benefits and challenges of managing a captive.
The ACC 2023 closed with a discussion on the function of captives to mitigate risks associated with Environmental, Sustainability and Governance (ESG). Panellists also debated on the role of parametric insurance as a catalyst in this process and its unique functionality in addressing company-wide ESG and reputational risk concerns.
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Media Contacts

Labuan IBFC

Komaladewi Sabilawati
+603-2773 8975

Lalitha Sivanesan
+603-2773 8984


Labuan International Business and Financial Centre (Labuan IBFC), Malaysia, through its internationally recognised yet business-friendly legal framework, is the preferred international business and financial centre in the Asia Pacific region.

It offers global investors and businesses the benefits of being in a well-regulated jurisdiction, while providing for fiscal neutrality and certainty, in addition to being an ideal location for substance creation.

Labuan IBFC boasts a wide range of business structures and investment solutions catered to cross-border transactions and international business dealings. It offers services and solutions in niches such as asset leasing, risk management, commodity trading, wealth management, international business companies and Islamic financial services to global businesses looking at penetrating Asia and Asian entities aiming to go global.

Labuan IBFC operates within clear and comprehensive legal provisions, guidelines and practice notes, enforced by a single regulator, Labuan Financial Services Authority.

To keep up with everything about Labuan IBFC, follow Twitter or Facebook @LabuanIBFC. Alternatively, visit

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