An insurance broker is a professional with an in depth knowledge of specific insurance and reinsurance classes. His role is to advise his clients on their specific needs and develop an insurance solution from the insurance market that meets these needs. Unlike an agent, who has a limited number of principals, the insurance broker has the ability to secure terms from a multiple number of insurance companies.

Insurance brokers licensed in Labuan are authorized to deal in both insurance and reinsurance, for both Life and General (Non-Life).