Malaysia legislation
Section 102
Section 102
(a)
a Labuan company;
Act 704
(b)
a foreign Labuan company; or
(c)
a branch of a Malaysian insurer, and holds a valid insurance licence.
(2)
No person shall carry on or transact or hold himself out as carrying on or transacting any business as a Labuan insurance manager, Labuan underwriting manager or Labuan insurance broker or any other Labuan insurance-related activities as may be specified by the Authority unless that person holds a valid insurance licence.
(3)
Except with the prior written approval of the Authority, a person who is not an insurance licensee shall not assume or use the words “Labuan insurer”, “Labuan insurance manager”,
“Labuan underwriting manager”, “Labuan insurance broker” or any derivative of such words in any language capable of being construed as indicating the carrying on of Labuan insurance business or Labuan insurance-related activities by such person.
(4)
This section shall not apply to bank licensees as defined in