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Last checked at 
19 Jan 2009 07:00
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Hansard Global PLC
("Hansard Global" or the "Company")
Hansard expands in Far East withΒ LabuanΒ branch opening
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Hansard Global,Β theΒ specialist long-term savings provider,Β announces that itsΒ subsidiary, Hansard International Limited,Β has established aΒ newΒ life assuranceΒ branch inΒ Labuan, an islandΒ administered by the Federal Government of Malaysia.
The new branch,Β Hansard International Limited Far East,Β is part ofΒ Hansard Global's strategy to expand and diversify itsΒ businessΒ in theΒ Far EastΒ region,Β and further positionsΒ the CompanyΒ as a leading provider of investment solutions to intermediaries supported by its award-winning technology platform, Hansard OnLine. TheΒ LabuanΒ branch will provideΒ a numberΒ of key benefits to the Company, including:
Improving proximity to existing intermediaries in the region, and the ability to use the base to focus on developing and training intermediaries;
Increasing access toΒ newΒ intermediaries and policyholders; and
Providing medium to long-term savings in servicing costs.
The new branchΒ has been issued a licence by the Labuan Offshore Financial Services Authority ("LOFSA").Β TheΒ Group'sΒ distribution arm, Hansard Development Services Limited, has also established a subsidiary inΒ Labuan,Β Hansard Development Services (Asia Pacific) Limited,Β which is also licensed by LOFSA.
LOFSA has implementedΒ a number ofΒ policies that facilitate the creation of a competitive and attractive business environment inΒ Labuan.Β These have not onlyΒ confirmedΒ Labuan's standing as a reputable offshore financial centre, but also have created aΒ business-friendlyΒ environment in which to operate.
Joseph Kanarek,Β Hansard Global'sΒ Chief Distribution Officer,Β commented:Β "The LabuanΒ branch andΒ licenceΒ providesΒ HansardΒ withΒ an excellentΒ channel for newΒ business distributionΒ in theΒ Far East, providing access to existing intermediariesΒ andΒ giving opportunities to source and train new ones.Β We regard Hansard's far-ranging network of intermediaries as one of our core strengths. This move supports its expansion in theΒ Far East."Β
Contact details:
For further information, please contact
Hansard Global PlcΒ
Vince WatkinsΒ /Β Gordon Marr 016Β 2468Β 8000
BellΒ Pottinger Corporate and FinancialΒ
Dan de Belder/Β Laura Pope 020 7861 3232
Β
Notes to Editors:
Hansard Global is a specialist long-term savings provider, based on the Isle of Man. The Company offers a range of flexible, tax-efficient investment products within a life assurance policy wrapper, developed to appeal to affluent international investors.
Labuan is an island strategically located in the Asia-Pacific region, off the coast ofΒ East Malaysia. It is an integrated International Business & Financial Centre (IBFC), offering a wide range of offshore financial products and services to customers worldwide, including banking and investment banking, insurance, captives, trust business, fund management, investment holding, company management and Islamic financing.
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