Etiqa Offshore Insurance (L) Ltd

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Career Opportunity

Captive

We will be able to assist in Captive license application process from the Labuan FSA and represent our clients as the Underwriting Manager for the Captive entity. Our services will include ensuring that the licensed entity will continuously comply with the guidelines and all statutory requirements for its operation.

Type of Company Single/Group/Pure Captive
Master
Rent-A-Captive
Subsidiary
Rent-A-Captive
 Captive on PPC Structure
Annual Fee RM10,000.00 RM13,000.00 RM3,000.00
Core: RM30,000.00
Cell: RM10,000.00
Paid-up Capital/Working Funds Paid-up capital unimpaired by losses of RM300,000 Paid-up capital unimpaired by losses of RM500,000
Margin of Solvency
Surplus of assets over liabilities equivalent to or more than its working fund;
or
10% of net premium income for preceding year in respect of general business or 2.5% of acturial valuation on liabilities for life insurance;
or
10% of provision for outstanding claims for the preceding year.
Operational Requirements
  • Operational management in Labuan
  • Appoint a licensed Labuan underwriting manager 
  • Person-in-control (Director/Principal Officer) duly approved by the LFSA

Starting A Captive

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