KUALA LUMPUR: Reinsurance businesses in Labuan are expected to breach the US$1bil mark in terms of gross premiums this year.
Labuan Offshore Financial Services Authority (Lofsa) chairman Tan Sri Dr Zeti Akhtar Aziz said that last year, the offshore insurance industry, particularly reinsurance business, grew by 40.3% to US$919.2mil, of which 62% were non-Malaysian premiums.
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