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International

Singapore Re to establish retakaful window in Malaysia's Labuan

April 29, 2016 Reprints

Singapore Reinsurance Corp. Ltd. said in its annual report that it had received approval to establish a retakaful window under its Labuan branch from the Labuan Financial Services Authority in Malaysia in the second half of 2015, reported Asia Insurance Review.

The reinsurer's premium revenue decreased 12.7% to $128 million Singaporean ($95 million) in 2015. Singapore Re's pre-tax profit decreased 41% to SGD 12.1 million during the year.

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Singapore Re to establish retakaful window in Malaysia's Labuan

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