RL360° has opened a new branch office in Kuala Lumpur, Malaysia, following the granting of a license by the Labuan Financial Services Authority. The license allows the international life assurance company to both sell products and administer policies.
The office will initially be run by 5 staff, headed up by RL360°’s James Savastano, who has relocated from Dubai to take up the role of Regional Sales Manager for Malaysia.
“Our aspirations for an RL360° office in Malaysia are long held but before we launched we wanted to ensure the framework was properly in place in order that we could fully maximise on the region’s potential,” said RL360° Chief Executive David Kneeshaw.
“This framework is now in place, along with all regulatory requirements, and we feel it’s a great opportunity for us, as well as for advisers and their clients in the region. We are looking forward to working closely together with them.”
Malaysia has the fourth largest economy in South East Asia and is the third wealthiest country in the region by GDP per capita. It has a population of over 30 million, which includes a very large expat community who work in a variety of developing industries such as the oil and gas, electronics and automotive sectors.
RL360° will launch a new, Malaysia focused, product in the New Year. We’ll contact you soon with more details. Following this launch, our office will become fully operational.
“We are excited about our new dedicated product, launching in 2017,” said Mr Kneeshaw. “For now, however, we are concentrating on our relationships in the region and making sure the RL360° message is being heard.”
If you would like to contact the new office following the launch of our new product in the New Year, call +603 2167 8900 or email Malaysia@rl60.com.