Starr Insurance Companies has expanded its presence in Malaysia by establishing a Labuan Branch (Starr Labuan) of Starr International Insurance (Singapore) Pte. Ltd., a non-life insurer organised under the laws of Singapore.
Starr Labuan has secured a license from the Labuan Financial Services Authority for Labuan general insurance and reinsurance. New and renewal business previously produced by Starr Underwriting Agents (Labuan) Limited will be transitioned to Starr Labuan.
Moreover, the establishment of Starr Labuan clearly demonstrates Starr’s commitment to the broader Asia Pacific region. The new branch will provide Starr with a platform to expand the scope of its re/insurance offerings for policyholders and cedants within Malaysia.
The company has confirmed that Rawi Letchumanan will oversee Starr Labuan as its local Manager.
“Malaysia is one of the fastest-growing economies in the region,” said Philip Finley, President, Asia Pacific Regional Manager for Starr.
“This new license provides Starr with a significant new facility to serve the insurance and reinsurance needs of companies across Malaysia.”