Miller has had brokers on the ground in Malaysia since 2023. What the Labuan licence provides is the regulated entity they have been working without.
The independent specialist reinsurance broker has launched Miller Malaysia under a Labuan licence, with an initial offering covering treaty and facultative reinsurance. Two brokers anchor the operation. Jo Garnett began his career with Miller in London in 1983, relocated to Asia in 1997, and rejoined the firm in 2023 after 12 years with competitors. Hui Sin Low brings 25 years of industry experience across treaty arrangements, structured placements and facultative reinsurance. Both were part of the APAC treaty reinsurance team Miller established in September 2023 and have been based in Malaysia since.
The Labuan International Business and Financial Centre (Labuan IBFC) is Malaysia's designated offshore financial hub, established by the Malaysian government in 1990 and regulated by the Labuan Financial Services Authority. International insurers and reinsurers use it to write cross-border business routed through Malaysia. A Labuan licence lets Miller trade with regional cedants under a local regulatory framework rather than channelling all business through Singapore.
Labuan's insurance sector recorded gross premiums of US$2.5 billion in 2025, up 5.8% on the prior year, with net retention rising to 62.7%, per the Labuan Financial Services Authority's Market Report 2025. That combination - more premium volume and a higher proportion kept within the market - is the kind of trajectory that makes a treaty and facultative broker worth placing there.
The Malaysia launch is the latest step in a build-out that began when Miller regained independence in 2021. The firm acquired Tokyo-based Lead Insurance Services in 2022, giving it access to the Japanese marine market. Miller Korea launched in January 2025 under David Kim, former chief executive of Marsh Korea, focused on the Korean insurance and reinsurance market. The APAC treaty reinsurance team launched in Singapore and Malaysia in September 2023, led by Richard Broad as head of treaty for the region.
Ron Whyte, head of Asia at Miller, said the firm remained one of the fastest-growing players in the region. "With Miller Malaysia, we are continuing to demonstrate real momentum as we extend the scope and reach of our market-leading specialist capabilities," he said.
Additional hires are planned in Malaysia before the end of 2026, with the Labuan offering intended to expand beyond its initial treaty and facultative scope over time.
