The Insurance Capital Adequacy Framework Conference in Kuala Lumpur

Kuala Lumpur, Malaysia, October 23, 2023 --(PR.com)-- In the Insurance Capital Adequacy Framework (ICAF) Conference 2023 organized by the Labuan Financial Services Authority (Labuan FSA) held in Sasana Kijang, Kuala Lumpur, Nicholas Yeo, Nicholas Actuarial Solutions founder and actuary, was invited to be one of the panelists.

Nicholas highlighted topics regarding ICAF topical issues, such as the consideration in setting of internal target capital level, capital risk management, strategic business planning, investment strategy and IFRS 17. He attended both panel discussions on Risk-Based Capital (RBC) Regime and ICAF Implementation – Key Preparation and Guidance. These areas are critical for insurers to protect policyholders, meet regulatory requirements, and make informed strategic decisions.

The ICAF Conference is organized by Labuan FSA together with Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC), a half-day event took place on 21 September 2023, with the theme of Enhancing Financial Resilience in a Dynamic Insurance Landscape. The conference aims to present the updated solvency framework and offers practical guidance as the Labuan insurance industry is currently undergoing a transition towards the adoption of a risk-based capital regime, which will be fully implemented in 2024. Nicholas’s role in the conference is to share meaningful experiences as an industry expert in the panel discussion sessions and contributing to new ideas.

Nicholas Actuarial Solutions is a technology-focused actuarial firm. Established in Kuala Lumpur, Malaysia in 2015, it is now a leading actuarial firm in Asia with 6 offices in the region. Nicholas Actuarial Solutions is the first and only actuarial firm awarded MSC Malaysia status by the Malaysian government, a mark of world-class service and achievement. Nicholas Actuarial Solutions received the Quality Assurance Scheme (QAS) accreditation from the Institute and Faculty of Actuaries. The QAS mark is a clear signal of Nicholas Actuarial Solutions’ commitment to the highest standards, giving both confidence to employees and a guarantee of quality to clients. Nicholas Actuarial Solutions was awarded Top Actuarial Firm in Asia by Captive Review and shortlisted as a finalist for Risk Solution of the Year by Asia Pacific Risk Management Awards.