ADNIC secures India approval for GIFT City reinsurance branch

Abu Dhabi National Insurance Company (ADNIC) has obtained regulatory support to acceptable up a reinsurance subdivision successful GIFT City, with the licence taking effect connected 1 April 2026.

The support was granted by the International Financial Services Centres Authority (IFSCA), allowing the insurer to transportation retired reinsurance concern from India’s International Financial Services Centre successful Gujarat.

The authorisation marks ADNIC’s introduction into India’s offshore fiscal centre and adds to its existing cross-border reinsurance enactment successful the country.

ADNIC, a determination multi-line insurer, has operations successful the United Arab Emirates (UAE), Saudi Arabia and the UK, and provides security and reinsurance services successful planetary markets.

The planned subdivision successful GIFT City is portion of the company’s broader overseas enlargement strategy and comes aft its caller determination into the Saudi market.

According to the company, the India subdivision is expected to lend to semipermanent maturation done broader gross sources and improved work capableness for clients successful faster-growing markets.

The improvement is besides expected to deepen economical links betwixt India and the UAE and backmost stronger bilateral commercialized and concern flows.

With the licence, ADNIC volition beryllium capable to constitute reinsurance concern from GIFT City, extending its planetary footprint and adding to its beingness successful markets it sees arsenic important for growth.

The improvement comes amid wider enactment successful India’s security market.

Last month, the Insurance Regulatory and Development Authority of India approved 2 caller security companies, permitting Allianz Jio Reinsurance and Kiwi General Insurance to commencement operations.

The regulator issued certificates of registration to some companies astatine its 134th committee meeting, enabling the introduction of 1 reinsurer and 1 wide insurer into the Indian market.

Separately, India precocious expanded the fig of Russian insurers allowed to supply marine screen for ships arriving astatine its ports, according to the Directorate General of Shipping.

The database roseate to 11 from eight. Gazprom Insurance and Rosgosstrakh Insurance were granted support to connection extortion and indemnity screen until 19 February 2027, portion Balance Insurance received support until 19 August 2026.

"ADNIC secures India support for GIFT City reinsurance branch" was primitively created and published by Life Insurance International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.