KUALA LUMPUR, Malaysia, Dec. 3, 2021 /PRNewswire/ -- Labuan International Business and Financial Centre (Labuan IBFC) continues to expand with increasing demand for its varying captive structures from across the globe, charting a 28% increase in its premiums for captive business and 18 new captives approved as at the third quarter of 2021.
- "At the same time, the Labuan captive business model which utilises protected cell companies (PCCs) has gained traction as a cost-effective method of operating captives.
- To date, there are approximately 7,000 captive insurance companies set up globally that enjoy this benefit.
- Established in 1990, Labuan IBFC is regulated by the Labuan Financial Services Authority (Labuan FSA), statutory Regulator under the purview of the Ministry of Finance, Malaysia.
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