Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-BV24QB

Restrictions on UK re-insurance businesses

in Malaysia

Trade barrier summary

UK insurance businesses can only be considered to provide re-insurance after two national offers have been considered.

Malaysia has mandatory cessions in place for re-insurance business to its national provider Malaysian Reinsurance Berhad (Malaysia Re).

In addition, Bank Negara Malaysia requires all local direct insurers to cede business first to local reinsurers (first tier) and then to Labuan-based reinsurers (second tier).

Only after these 2 options have been exhausted may a Malaysian business use UK or other foreign re-insurers.

Sectors affected

  • Financial and professional services

Resolved

No

Date reported

19 March 2019

Last updated

19 July 2022

Public ID

PID-BV24QB

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