New captive cell launched in Asia backed by China Re and Northern Trust

Opulence Ltd has launched a captive insurance cell in Labuan, a move that reflects growing interest in regulated captive structures in Asia.

The new vehicle is endorsed by the Labuan Financial Services Authority (LFSA) and operated under the licensed insurer Goldman Insurance PCC Ltd. According to Opulence, the structure is backed by NTG Holdings to provide financial strength, with additional reinsurance capacity from China Re, Asia’s biggest reinsurer and the world’s eighth largest. Governance and asset protection will be supported through a regulated trust framework administered by Northern Trust Global Asset Servicing.

The initiative comes as more businesses in the region look to captives to formalise risk retention and improve capital efficiency. By channelling risk through its Labuan cell, Opulence said it intends to enable affiliated businesses to capture underwriting profits and manage long-term exposures more effectively within a regulated environment.

In a statement outlining its mission, Opulence said it aims “to deliver institutional-grade captive insurance solutions that drive long-term wealth preservation, risk control and financial resilience.” The company also emphasised values such as integrity, stability and transparency as central to its operating model.

The development highlights the role of Labuan as a growing hub for alternative risk transfer in Asia, with LFSA continuing to promote its framework as a base for international captive activity. 

With reinsurers such as China Re involved and global custodians providing oversight, the launch could signal further momentum for the use of cell captives by companies in the region seeking both flexibility and credibility.

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