Labuan

 
Total number of active captives
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Number of active captives (pure)
38
Number of active captives (RRG)
4
Number of active captives (sponsored/cell captives)
2
Number of individual cells/cell participants
13
Gross written premium for all captives
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Total number of active captives, as of 12/31/2018
43
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
Number of full-time employees in captive regulatory department
4
Premium tax rate
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Premiums to surplus
A Labuan captive insurer is required to maintain at all times a surplus of assets over liabilities, which is equivalent to, or more than the amount of its working funds; 0r 20% of the net premium income for the preceding year in respect of the general insurance business; or 3% of the actuarial valuation of the liabilities for life insurance business as at the last valuation date in respect of the life insurance business, whichever is greater.
Minimum capital (broken out by type of captive)

A paid-up capital of a Labuan company unimpaired by losses of single/group/association/multiple captive, 300,000 Malaysian ringgit; rent-a-captive/cell captive, 500,000 Malaysian ringgit.

Applicable Acts/Enabling Legislation
Labuan Financial Services and Securities Act 2010; Labuan Islamic Financial Services and Securities Act 2010; Labuan Companies Act 1990; Labuan Business Activity Tax Act 1990.
Captive Administrator’s name and longevity in position and also within department
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Time given for application process
30 days
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.labuanibfc.com