Written by The Edge Financial Daily Tuesday, 27 April 2010 19:31
KUALA LUMPUR: AIRASIA BHD 's unit AirAsia Corporate Services has received official approval to set up a Labuan captive insurance business.
The low-cost carrier said on Tuesday, April 27 the unit had received the go-ahead from Labuan Financial Services Authority to set up the captive insurance business.
"The primary purpose of establishing the Labuan captive insurance business is to provide access for the company to commercial insurance markets and provide flexibility in managing and retaining its own risks," it said.
AirAsia said this will have a choice of which risks and how much risk the company intends to retain within the group thus simultaneously giving the company greater flexibility in managing its risks.
No comments:
Post a Comment