Singapore-based insurtech company Axinan has been granted a combined general insurance and reinsurance licence from the Labuan Financial Services Authority in Malaysia.
According to Axinan, it is the first Southeast Asian insurtech to have secured this kind of licence, allowing it to underwrite general and reinsurance risks. The company will also find it easier to underwrite new product lines and distribute insurance products through a fronting arrangement with local insurers, subject to the country’s regulatory requirements.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.