Principles of Self-Insurance, Emerging Trends & Opportunities for Asian Captives, Tokyo - Labuan IBFC Inc

Although the concept of self-insurance vehicles such as captives is relatively new in Asia, the industry has been long-established with over 6,600 captive insurance companies worldwide. With only a small proportion of these captives – approximately 200 companies – domiciled in Asia Pacific, many Asian businesses still stand to gain from learning about the benefits of self-insurance.

Effectively, the process of forming a self-insurance vehicle such as a captive will allow a deeper understanding of your corporation and its risk profile as it facilitates the identification of key business risks.

Come and join us to learn how captives can be specifically tailored to your business, transforming your insurance from a business cost to a risk management initiative; as well as domiciling captives in Labuan International Business and Financial Centre.

FARAH JAAFAR-CROSSBY
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 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.
SEIJI KUROSO
Seiji Kuroso started working for Aon Risk Specialist Limited in 2003, where he was engaged in insurance broking and served as a lead broker. In 2008, Seiji joined Japan Risk specialist Co., Ltd. as General Manager and continued to serve as lead broker.

Seiji has over 15 years of experience in the industry, specialising in Insurance and Reinsurance treaty. Throughout this time, he has worked with numerous industry players including Insurance companies, Small Amount & Short Term Insurance (SASTI) companies, Cooperative associations, Kyosai’s, and Captives.
TADAYOSHI OTSUKA
Tadayoshi Otsuka is a professor at Graduate School of Accountancy, Waseda University. He has been in charge of pricing and risk management in life insurance and reinsurance companies since 1981 and was appointed as the product development executive in a foreign life insurance company.

After leaving the company, he was a researcher at Waseda University Research Institute on Insurance Supervisions and Regulations, and an assistant professor at Waseda University Graduate School of Commerce before being appointed to his current position in 2018. His specialties are actuarial science, risk management, insurance mathematics and financial engineering. He holds a PhD Degree in Economics and a Fellow of the Institute of Actuaries of Japan.
ANNIE UNDIKAI
With 20 years’ experience in the industry, Annie Undikai is a qualified professional accountant and a Certified Financial Planner. A Bachelor‘s Degree (Hons)graduate in Accounting and Computing Science, she gained extensive exposure in handling all aspects of accounts, taxation, investment, administration andmanagement consultancy. She started her career with one of the top 5 audit firms and from 1997 to 2004, she joined Etiqa Offshore Insurance (L) Ltd(previously known as MNI Offshore Insurance (L) Ltd, a licensed Labuan insurer, Underwriting Manager and Insurance Manager as Head of Operations andMarketing. Prior to 1997, she was the Group Financial Controller of a shipping and transportation company.

Twelve years ago, she founded Brighton Management Limited, an independent licensed insurance/underwriting manager and specialized in providing insurance management services to insurance and insurance-related entities, including captives and now managing over 70 clients worldwide.
NAOYOSHI ARAKI
Naoyoshi Araki is the Representative Director at Japan Risk Specialist Limited. After he graduated from Faculty of Economics, Keio University in 1986, hestarted his career as the financial derivatives trader at American securities company. In 1998, after 10 years of working as the financial derivatives trader,he started working for the German reinsurance company engaging with reinsurance business, mainly focusing on reinsurance underwriting and assessment work of engineering insurance and property insurance.

In 2007 he started working for Aon Risk Specialist Limited, engaging reinsurance broking business then appointed as the President of the same company in 2008. In 2009, with the change of shareholders of the company, he became the Representative Director at Japan Risk Specialist Limited.