Insurance & Takaful, Insurance Related Businesses

Labuan Insurance Business

  • Defined as an insurance business that is transacted in foreign currency & includes:
  • Applicants with a Protected Cell Companies structure can also apply for the Labuan General Insurance and Labuan Life Insurance business.

Labuan Takaful & Retakaful Window for Labuan Insurance

  • Applicant of existing licensees under the LIFSSA 2022 can establish a takaful / retakaful window without a separate license or additional fee by submitting:
  1. Certified true copy of board resolution for the establishment of takaful or retakaful window.
  2. Business plan with 3 years’ financial projections.
  3. Information on its internal Shariah Advisory Board (SAB).

Labuan Insurance-Related Business

An applicant for a Labuan insurance-related licence may carry on business as follows:

Activities are governed by LFSSA 2022.

Certification Programme for Labuan Financial Advisers

  • Professional Certification and Development Programme for appointed representatives of Labuan life insurance broking companies.
  • Collaboration between Labuan FSA with Labuan International Insurance Association (LIIA), Malaysian Institute of Insurance (MII) & Chartered Insurance Institute UK (CII).
  • Ensure that only qualified financial advisers/business development managers/coordinators are employed for client advising activities.

Licensing  Requirements

Operational Requirements