This year’s conference themed 'challenges in self-insurance: transparency and digital disruption' aims to highlight the challenges and disruptors risk managers are facing from technology, which is fast changing their respective business models.

At the same time, risk managers are also required to meet the growing demands of tax transparency and substance brought about by multilateral organisations and regulators.

Objectives

The conference will share the best practices and strategies relating to various self-insurance models, risk retention approaches and domicile selection adopted by multinational companies and industry professionals. In addition, there will be a dedicated presentation on protected cell companies.

Who should attend

Captive owners, captive managers, service providers, investment managers, brokers, domicile regulators and officials from Malaysia and around the region.

  • Speakers

    Farah Jaafar-Crossby, chief executive officer, Labuan IBFC Inc

    Farah Jaafar-Crossby is the chief executive officer of Labuan IBFC Incorporated Sdn Bhd (LIBFC Inc.), the official promotion and marketing agency for Labuan International Business and Financial Centre (Labuan IBFC) since January 2018. She assumed this role after more than three years as the director of market intelligence and strategic communications, in LIBFC Inc.

    Farah, a seasoned communications professional, brings with her more than 20 years of experience in capital markets and the wholesale financial services sector, putting her in good stead to promote Labuan IBFC as the preferred midshore jurisdiction in Asia Pacific. Farah was formerly attached to the Asian Institute of Finance and Bursa Malaysia, where she was involved in senior market development and strategic communications roles. She also managed the Association of Stock Broking Companies Malaysia, the industry lobby group representing Malaysian stockbrokers, allowing her a unique insight and hands on experience with issues surrounding multiple stakeholder management.  Farah has a LLB (Hons) from Sheffield University, United Kingdom.

    YBhg Dato’ Mohammed Azlan Hashim, chairman, Labuan IBFC Inc.

    Dato’ Mohammed Azlan Hashim is chairman of Labuan IBFC Inc. He is also chairman of D&O Green Technologies Bhd, Marine and General Berhad and IHH Healthcare Bhd. He serves as a Board Member of Khazanah Nasional Bhd and the Government Retirement Fund Inc Investment Panels. Dato’ Azlan has extensive experience in the corporate sector, including financial services and investment. He has held various senior positions, including CEO of Bumiputra Merchant Bankers Bhd, group managing director of Amanah Capital Malaysia Bhd and Executive Chairman of Bursa Malaysia Bhd Group. Dato’ Azlan is a Fellow Member of the Institute of Chartered Accountants, Australia; Member of the Malaysian Institute of Accountants; Fellow Member of Malaysian Institute of Directors and Fellow Member of the Institute of Chartered Secretaries and Administrators.  Malaysia. He holds a Bachelor’s degree in Economics from Monash University in Australia, and is qualified as a Chartered Accountant in Australia.

    Syahrul Imran Mahadzir, director market development department, Labuan Financial Services Authority

    Syahrul Imran Mahadzir is the director of the Market Development Department at Labuan Financial Services Authority (Labuan FSA). He obtained his Masters in Actuarial Science from the Heriot-Watt University, Edinburgh, Scotland in 2003 and is an affiliate member of the Association of Chartered Certified Accountants (ACCA), United Kingdom.  Four years ago, Syahrul joined Labuan FSA to head the Prudential Policy Development unit before being promoted to his current position in 2015. His responsibilities include formulating developmental, tax and prudential policies towards the orderly growth of the financial services industry in Labuan International Business and Financial Centre. Syahrul brought with him 18 years of collective work experience at amongst others, the Central Bank of Malaysia, MNRB Holdings Berhad and Malaysian Development Corporation, prior to joining Labuan FSA.

    Malcolm Cutts-Watson, managing director, Cutts-Watson Consulting Limited

    With four decades in the alternative risk industry, Malcolm has gained an unique insight into captives and a sophisticated outlook for the future. He is a member of the Captive Hall of Fame that recognises outstanding contribution to the industry over the past 50 years. He is a member of Labuan FSA International Advisory Panel. He has advised many Asian corporates and governments on captive strategy and spent time in China fostering the use of captives.

    Suchitra Narayanan, group head of risk, Air Asia Berhad

    Suchitra joined Air Asia in November 2017, as group head of risk and insurance. In this role, Suchitra is responsible for the development and execution of Enterprise Risk Management and Business Continuity across the group, as well as the implementation of a strategic Insurance function. She reports to the CEO as well as the Risk Management Committee, which is a subset of the Board. Suchitra has over 15 years’ experience in risk management. Prior to joining Air Asia, Suchitra worked for various financial, insurance, investment management and oil and gas organisations in London and Kuala Lumpur.

    Suchitra has a B.Sc (Hons) in Economics and Statistics from University College London and is a qualified chartered accountant.

    Raziyah Yahya, former chief executive officer, Energas Insurance (L) Limited

    Raziyah Yahya was formerly an advisor and head of group insurance of Petroliam Nasional Berhad (Petronas). She has been with Petronas Group Insurance since May 1978 until her retirement in December 2017. Prior to joining Petronas, she was attached with Mayban-Phoenix Insurance Sdn Bhd. During her tenure with Petronas, she was also appointed to the Board of Energas Insurance (L) Limited on 24th March 2005 and as chief executive officer on 4th May 2009. Energas is a captive insurance company and a wholly owned subsidiary of Petronas.

    Benjamin Tausig, tax partner, financial services, Deloitte & Touche LLP

    Ben is a financial services tax partner with Deloitte in Singapore and leads Deloitte’s insurance tax practice in South East Asia with a wider focus on Asia Pacific. He has worked in Singapore, London and New York providing domestic, cross-border and international tax advice. Ben has more than 15 years’ experience in tax advice, mainly to insurance groups.

    He has significant experience in advising multinational insurance groups on international tax issues, financing, group reorganisations and transfer pricing. In addition Ben has served as an independent tax expert in litigation matters. Ben has a wealth of experience advising insurance groups and private equity on mergers and acquisitions (buy side and sell side), providing tax due diligence and structuring advice.

    He also has experience leading multi-disciplinary teams designing and implementing the legal and operating structure of insurance groups either reorganising their operations or entering into new and emerging markets in Asia Pacific and Latin America. Ben has a bachelor’s degree from Magdalene College, Cambridge and is a fellow of the Institute of Chartered Accountants of England and Wales and a member of the Chartered Institute of Taxation.

    Raymond Wong, chairman, Labuan International Insurance Association

    Raymond is currently the chairman of the Labuan International Insurance Association. The Association represents the interests of the over 200 entities which are licensed by the Labuan Financial Services Authority. He also sits on the Board of Labuan IBFC Inc, the official promotional agency for Labuan International Business and Financial Centre.

    He entered the Insurance Industry in Malaysia after completing his university education in Canada in 1978. Working in the American Insurance Company (AFIA) Malaysia for over 4 years he went to UK to read Law. In London he worked in Citicorp Insurance Brokers (Lloyds Broker) for over 2 years. In 1987 he returned to Malaysia to set up the Citicorp Insurance Brokers.

    In 1989 he joined Nanyang Insurance Company (Paramount Assurance) as General Manager and subsequently it’s CEO and board director. In 1999 he joined Catlin Labuan (Catlin syndicate) as principal officer and later board director. The merger of XL and Catlin in 2015 saw him appointed as the country head for both Catlin and XL legal entities in Malaysia. He has served as Management Committee member of the General Insurance Association of Malaysia (PIAM), board member of the Malaysian Insurance Mediation Bureau and Committee member of the National Insurance Association Malaysia (NIAM). He was also a board director of the Malaysian National Reinsurance Berhad (MNRB) from 1994 to 1997.

    Danial Mah Abdullah, director-general, Labuan Financial Services Authority

    Mr Danial is the director-general of Labuan FSA, the regulatory authority of Labuan International Business and Financial Centre. Mr Danial assumed the position of director-general with effect from 3 October 2017. Prior to this, he was the deputy director-general of Labuan FSA, a position he held since 2007. He has worked in Labuan FSA since the early years of its establishment and held various positions in the organisation. Mr Danial is a board member of International Islamic Financial Market (IIFM) and member of its Executive Committee.  He is chairman of the Financial Stability Committee Labuan FSA and a Board member of the Labuan Corporation, Financial Park Labuan, Labuan IBFC Incorporated Sdn Bhd, LabuanFSA Incorporated Sdn Bhd and Pristine Era Sdn Bhd. He also chairs the council of Labuan IBFC Foundation and member of the Port Consultative Committee for Lembaga Pelabuhan Labuan (LPL).

    Mr Danial has a Bachelor of Accounting (Hons) from the University of Malaya, Malaysia; and a Masters in Business Administration from the Manchester Business School, UK. He is a Chartered Accountant registered with the Malaysian Institute of Accountants.

  • Agenda - day one

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    8.00 AM Registration and morning coffee
    9.00 AM Welcome remarks
    Farah Jaafar-Crossby, Chief Executive Officer, Labuan IBFC Inc
    9.05 AM Keynote address
    YBhg Dato’ Mohammed Azlan Hashim, Chairman, Labuan IBFC Inc.
    9.25 AM Presentation
    A self insurance road map: Facilitating the growth of asian businesses
    Syahrul Imran Mahadzir, Director Market Development Department, Labuan Financial Services Authority
    9.40 AM Panel discussion
    The growth of self insurance in Asia: An intersection of industry and regulatory demands
    Moderated by: Malcolm Cutts-Watson, Managing Director, Cutts-Watson Consulting Limited
    10.30 AM Networking break
    11.00 AM Panel Discussion
    Challenges of self insurance: Digital disruption and transparency technology has the potential of transforming the entire insurance value chain from product development all the way to claims management. What are the implications for self-insurance and how will be the industry deal with these changes and the enhanced requirements for transparency?
    12.00 PM Networking lunch
    2.00 PM

    One on one interview
    The risk of taking risk into your own hands: A personal experience

    Suchitra Narayanan, Group Head of Risk, Air Asia Berhad
    Raziyah Yahya, Former Chief Executive Officer, Energas Insurance (L) Limited

    2.45 PM Panel discussion
    Tax transparency and self-insurance: The only constant is change
    Multinational companies with large captives will need to be prepared to demonstrate their alignment to the BEPs principles of tax transparency that could impact the captive market. In this session, our experts will share in their strategies and the effect of transparency and requirements.
    Moderated by: Benjamin Tausig, Tax Partner, Financial Services, Deloitte & Touche LLP
    3.45 PM Panel discussion
    Self-insurance and risk retention: Why, how and when?
    In this panel we will hear experts share their best practices, challenges and personal experience as to when best to explore self-insurance options, the type of self-insurance structures and when best to retain risk
    4.45 PM Closing remarks
    Raymond Wong, Chairman, Labuan International Insurance Association
    5.00 PM Ends with networking
    6.30 PM Asia captive review awards 2018
  • Agenda - day two

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    8.15 AM Morning coffee
    9.00 AM Welcome remarks
    Danial Mah Abdullah, Director-General, Labuan Financial Services Authority
    9.10 AM Panel discussion
    Choosing a domicile: Key considerations
    The panel will compose of protected cell companies and captive specialists, legal, actuarial and tax professionals who will share their insights into key considerations in deciding a domicile for your self-insurance needs.
    Moderated by:
    Panelists:
    Malcolm Cutts-Watson, Managing Director, Cutts-Watson Consulting Limited
    10.00 AM Networking break
    10.20 AM Fulfilling the potential of protected cell companies in Asia
    11.00 AM Keynote panel
    The future of risk management
    What will the future of risk management look like? How will the risk managers manage the automation of risk management and elevate their role to a more strategic level in this age of digitisation. What skill sets will be needed to meet the demands of this new role?
    12.00 PM Closing remarks
    Secretariat Asian Captive Conference 2018
    12.30 PM Ends with networking
ACCA supports The Asian Captive Conference 2018, an event organised by Labuan IBFC and Labuan International Insurance Association.