Etiqa Offshore Insurance (L) Ltd

Captive

Labuan authorities have issued a guideline for the process of Captive license application in accordance to the Labuan Financial Services and Securities Act 2010. The guideline describes various conditions businesses have to fulfil in order to qualify for the license. This includes the permissible nature of the business, capital requirements, as well as relevant statutory reporting requirements throughout its operation.

Our services are designed to assist Captive owners under our care to comply to the statutory requirements and ensure uninterrupted presence of its operation in an offshore legislative environment.

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

Key Elements Of Starting A Captive

Insurance Management
Licensing Fees, Annual Fees & Regulatory Fees
Fronting Insurer
Audit & Actuarial Cost
Experienced Directors & Corporate Secretaries
Third Party Administrator