COVID-19 on top of the hardening market has created a perfect storm for Captives. Even before this, a growing awareness in Asia towards self-insurance has been evident with a 23% growth in the number captive holders in 2019. Also, there are more options for corporations who prefer slowly dipping their toes into the world of self-insurance before going into the deep-dive.
Risks are becoming more interconnected and interdependent. Captives has the flexibility to respond to new and unique risks, with the ability to grow and have access to capacity.
Embracing Agility – A collaboration proudly brought to you by Labuan IBFC and PARIMA, the 3rd Asian Captive Conference (ACC) is hosted as part of the PARIMA Resilience Week of events – who said there is too much of a good thing? This supportive partnership seems particularly apt given the theme of the ACC is “Agility in the COVID Climate”. Hear from the Director General of Labuan Financial Services Authority, as well as the Chairman of the Labuan International Insurance Association on the agility required for government, corporations and the community to respond during this pandemic.
Finding a Soft Landing in a Hard Market – Labuan as a risk financing domicile of choice in Asia has been gathering momentum, going beyond the plain vanilla of wholly-subsidiary captives into more sophisticated structured financing and insurance tools. Self-insurance is often (mis)construed as a panacea to all the woes of a hardening insurance market, especially when exacerbated by a global pandemic. Without the right risk management approach and the appropriate reinsurance protection, it could well be a Pandora’s box instead. Our panel of captive experts will unpack the good, bad, and the ugly of the reinsurance and self insurance space.
Swiss Re Corporate Solutions
Labuan Financial Services Authority
Labuan International Insurance Association
International Medical Director
and Chief Medical Officer
Marsh Management Services Labuan Limited
Global Captive Solutions Leader
Swiss Re Corporate Solutions
Business Risk Consultant, Asia Pacific
Jeffrey is a member of FM Global’s Business Risk Consulting (BRC) team in the Asia Pacific region. BRC services take a strategic approach towards helping clients identify the critical processes that drive their businesses and quantify dependencies on those processes. Through Business Impact Analysis (BIA), BRC helps clients to better understand the financial exposures to their businesses, to strengthen business resilience and develop effective risk management strategies.
Jeffrey joined FM Global in September of 2018. Prior to joining FM Global, Jeffrey was a Risk & Compliance Manager in the Group Finance department of The Great Eastern Life Assurance Company Limited, where he specialised in business process improvements and developing risk strategies. Prior to Great Eastern, Jeffrey served as a Corporate Improvement Manager in a publicly listed supply chain management company. He also had experience in performing financial statement audits in a range of industries, during his stint as a Senior Assurance Associate in Deloitte.
As a member of the Business Risk Consulting Group, Jeffrey is primarily responsible for conducting Business Impact Analysis, working in partnership with FM Global clients, to fully identify and quantify the client’s financial exposures as they relate to property and business interruption loss potential. The analysis Jeffrey performs often result in the identification of significant exposures that were previously unknown or not fully understood by the client, which potentially has a material impact to risk management decisions.
Jeffrey holds a Bachelor of Accountancy degree from Nanyang Business School, Nanyang Technological University of Singapore. He is also a certified Chartered Accountant.
Asia Complex Loss Director
Guido Gavio is the Asia Complex Loss Director for BELFOR Asia. He has more than 22 years of experience in handling restoration projects for companies suffering from losses after a disaster. He joined BELFOR Asia, then known as Relectronic – Remech as a Restoration Engineer in Australia in 1996. He rose through the ranks and was seconded to Thailand for 3 years from 1998 to 2001 before being posted to the regional Headquarters in Asia in 200
Guido studied electrical engineering at the Universidad Technologica de Buenos Aires in Argentina. Upon graduation, Guido worked at the National Institute of Industrial Technology assisting with research programs in the area of superconductors where he gained considerable hands – on experience in developing and building prototypes. Guido then migrated to Australia where he worked for Telstra in the design and construction of the cable and internet network.
Upon completion of the Telstra project, Guido joined Relectronic – Remech. BELFOR Asia has the capability to recover buildings, production lines and other property, following disaster incidents such as fire, explosion, earthquake, typhoon, wind, flooding, rain, water ingress, chemical spills etc.
The company has maintained the market leader position for disaster recovery in Asia for the past 25 years, and is now handling more than 1,600 industrial disaster incidents per year.