With a strong foundation in both financial positioning and industry experience, Etiqa Offshore Insurance offers an array of management services that is professionally and efficiently managed. From management services such as accounting, legal, compliance advice to completion of license application, we will be your liaison person with various parties such as Labuan Financial Services Authority (Labuan FSA), business partners and regulators.

With our team from various professions and experience, we are able to cater to your company’s required needs and services.
Role of an Insurance / Underwriting Manager?
Protocols – part of the requirements under the Labuan IBFC laws and regulations
To represent Clients as their Head Office in Labuan as an alternative to setting up a physical office
Management Services: Administration, business operation, record keeping, accounting, corporate governance and compliance
Facilitate reinsurance risk placement and claims management
License application and drafting of business plan
Typically the formation of an Offshore Insurance Company will follow the process-outlined below: 
Decide to set up a Company / Branch in Labuan IBFC
Reservation of Company / Branch name
Preparation of application forms and documents for the License to carry on offshore insurance business
Submission of application forms and documents to Labuan FSA
Obtain approval from Labuan FSA – Further documents to submit within 3 months for issuance of License
Incorporate Company / Register Branch
Submission of remaining documents to Labuan FSA – usually deemed as the date of the License
Commence Business
Administration and Office
Represents Labuan Management Office : Liason with authorities/auditors, attendance to meetings etc.
Local knowledge and global delivery
Well equipped business centre
Compliance advisory inlcuding AML ~ Compliance Officer delegation work (Optional)
Writing up of General Operating Procedures (Optional)
Future (Optional) ~ Internal Audit and Risk Management
Statutory Reporting
Preparation of statutory reports
Advice on compliance
Human Resource
Payroll – enrolments, payments and statements
Work permit application
Advice on local government regulations
Record Keeping
Keeping of records as required by the Labuan Financial Services & Securities Act, 2010
Maintenance of inward and outward flow of documents
Provision of proper filing rooms and space
Accounting and Financial Reporting (Optional)
Data entry and maintenance of financial records
Reconciliation of bank and trade accounts
Preparation of Financial Statements and Operating Reports
Full RI Accounting & Database software provided
Treasury and Financial Services (Optional)
Expenses and disbursements administration
Premium Remittance
Collections and claims disbursement
Cashflow control and projection report
Underwriting and Reinsurance Support
Reinsurance documentation control
Facilitate reinsurance placements (captive)
Claims Handling Optional
Claims documentation control and facilitate processing
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