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Etiqa Offshore Insurance (L) Ltd
Captive
We assist Captive owners under our care to comply with the statutory requirements and ensure uninterrupted presence of its operation in an offshore legislative environment.
We are able to assist in the Captive license application process from the Labuan FSA, and to represent our clients as the Underwriting Manager for the Captive entity. Our services will include ensuring that the licensed entity will continuously comply with the guidelines and all statutory requirements for its operation.
Type of Company | Single/Group/Pure Captive | Master Rent-A-Captive | Subsidiary Rent-A-Captive | Captive on PPC Structure |
|---|---|---|---|---|
Annual Fee | RM10,000.00 | RM13,000.00 | RM3,000.00 | Core: RM30,000.00
Cell: RM10,000.00 |
Paid-up Capital/Working Funds | Paid-up capital unimpaired by losses of RM300,000 | Paid-up capital unimpaired by losses of RM500,000 | ||
Margin of Solvency | Surplus of assets over liabilities equivalent to or more than its working fund; or 10% of net premium income for preceding year in respect of general business or 2.5% of acturial valuation on liabilities for life insurance; or 10% of provision for outstanding claims for the preceding year. | |||
Operational Requirements | To appoint a Labuan-licensed Underwriting Manager, approved by the Labuan Financial Services Authority, in place of the management office
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