Etiqa Offshore Insurance (L) Ltd

Management Services

Our wide range of practices under this service is designed to provide an efficient alternative to employing your own workforce and minimising the need for regular physical presence on-site. Our team has the wealth of experience to understand the nature of your business and to guide you through the intricacies of Offshore and Mid-shore regulatory requirements.

Our services are structured to ensure that you meet the routine statutory reporting, and where required, they will also be customised to fulfill any other unique requirements that may arise from your business activities and operations.

Types of Services

Administration of Office
Represented by the Labuan management office, we will liaise with the relevant parties such as the Labuan FSA, auditors, trust companies, the Malaysian Inland Revenue Board, actuaries, and etc.
Managing Regulatory Requirements
We provide compliance advice and services to manage requirements in line with the Labuan Financial Services & Securities Act 2010 and related regulations and rules.
Accounting and Financial Reporting
Our services include book-keeping, preparation of financial statements, and management of statutory accounts in compliance with local and international accounting standards.
Statutory Reporting
Our services include providing submission reminders as well as the preparation and submission of statutory reports to the regulator, e.g. underwriting report to the Labuan FSA on a periodic basis in accordance with the Labuan FSA guidelines.
Human Capital
We provide services on the preparation of monthly and annual payroll reports (including EPF, SOCSO, Tax, Zakat), pay slips, EA forms, and Form E. This includes leave and claims management, employer registration with statutory bodies, as well as liaising with the relevant authorities in respect of payroll processing. We can also assist in Work Permit application for foreign employees and their dependants.
Record-keeping
We provide services on the storage of documentation and books, either in hardcopy of softcopy, that will sufficiently explain the transaction and financial position/statement to comply with the requirement to keep records in Labuan.
Underwriting & Reinsurance Support
We provide services on executing and counter-signing all policies and contracts of insurance and reinsurance accepted with proper administration of the reinsurance slips and wordings files.
Treasury
We provide services on the monitoring and reporting of cash flow, issuance of payment on behalf of the Company, and handling incoming cheques or money transfers.
Claims-handling
We provide services on claims documentation control as well as the facilitation of the processing of claims payments. This includes an establishment of loss reserves, loss expense reserves, and claims files maintenance.
One-stop Substance Solution
We provide one-stop services to meet the substance requirement, i.e. placement of manpower and office space in accordance with the prevailing regulation.