Hong Kong-based global reinsurer Peak Reinsurance Company Limited (Peak Re) has secured a reinsurance branch licence as an IFSC Insurance Office (IIO) from the International Financial Services Centres Authority (IFSCA) on 20 February 2025 to conduct reinsurance business.
The IIO, established in Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India, is classified as a Category 2 reinsurer under the applicable regulations for “Order of Preference” and is authorised to underwrite both property & casualty and life & health reinsurance.
This milestone marks a significant step in Peak Re’s expansion across emerging markets in Asia and beyond.
India is a key market for Peak Re, aligning with its goal of modernising reinsurance and supporting middle-class communities across the region.
Establishing an IFSCA branch reinforces Peak Re’s commitment to the India market, strengthening its ability to meet local needs and deepen engagement with the community.
Sudhir Salian, Managing Director and Head of India at Peak Re, will oversee the development of the new branch.
