Anti-Bribery and Corruption Policy Statement

The Board and Senior Management of Labuan Reinsurance (L) Ltd (Labuan Re) are committed to implementing and enforcing effective and robust policies and procedures to prevent, monitor and eliminate bribery and corruption.

Labuan Re has zero risk appetite for regulatory risk and places high emphasis on compliance within the spirit and wording of the statutory and other relevant legislation.

Labuan Re has zero risk appetite for Legal or Governance – related action against the organisation and is committed to ensuring solid business rationale and strategy on all governance matters.

Labuan Re has no tolerance for compliance breaches and/or unethical behaviour.
All directors, employees and business associates of Labuan Re must fully comply with applicable laws and regulations, including the Malaysian Anti-Corruption Commission Act 2009

All directors, employees and business associates of Labuan Re are strictly prohibited from directly or indirectly soliciting, accepting or offering bribes in relation to the Labuan Re’s businesses and operations.

The business associates must implement anti-bribery and corruption program and will maintain within its organisation compliance policies or codes prohibiting unethical business behaviour by its employees.

Labuan Re provides an avenue for all employees and members of the public to disclose any improper conduct within the Labuan Re, which is governed by the Labuan Re’s Whistleblowing Policy. Labuan Re shall ensure compliance with this Policy requirements by all available means, including undertaking continual improvement action whenever appropriate.