Strategically located in the Petronas KLCC, with a license issued by the Labuan Financial Services Authority, ITA has established a fully functional sales, marketing and operations office with services in multiple languages.
Bob Pain, ITA’s managing director said the move showed the insurer’s commitment to building a business in Malaysia and the Southeast Asian market.
Pain added that Malaysia is a politically stable country and has a highly educated, multi-lingual and cultural workforce, which contributes to its business friendly environment. There is also a solid base of both local and expatriate IFAs, and cost savings in comparison with setting up in Singapore.
Investors Trust researched obtaining licences throughout Asia but felt Labuan and Malaysia were a good fit for its strategy.
In the future, Pain does not rule out obtaining further licences in the region having already got a rep office in Hong Kong to serve as a hub for North Asia.
ITA is an international insurance company licensed and regulated by the Cayman Islands Monetary Authority.