deVere said it received permission from the Labuan Financial Services Authority to open the office, following the “success” of its first office in Kuala Lampur. Labuan is a series of small islands off the coast of Northern Malaysia, the regulator of which is involved in the regulation of insurance companies on the mainland. To read about Labuan’s plans to overhaul its insurance industry, click here.
Terry Howes, Malaysia country manager for deVere, said the new office in Penang will enable the company to grow its business in the country and continue to service its growing client-base in the region.
DeVere opened its Kuala Lampur office in 2005.
