Reinsurance News
India
India’s insurance and reinsurance market is dynamic and growing, a key location for global players and with an expanding domestic marketplace.
Read our India insurance or reinsurance news and analysis below.
Ruchi Jain named Principal Officer of Saudi Re’s IIO-GIFT City, India Branch
9th June 2026
Saudi Re, a MENA region reinsurer, has announced the appointment of Ruchi Jain as Principal Officer of its IIO-GIFT City, India Branch. In January 2026, Saudi Re obtained approvals from Saudi and Indian authorities to open a branch in GIFT City, India. Having been active in the Indian market for over ... Read the full article
IGI to open a new branch in India’s GIFT City as it secures license
8th June 2026
International General Insurance Holdings Ltd. (IGI) has secured a license to operate in India’s Gujarat International Finance Tec-City (GIFT City), the country’s first and only operational international financial services centre. The expansion follows registration approval from the International Financial Services Centres Authority (IFSCA) to establish an IFSCA Insurance Office (IIO). IGI’s India ... Read the full article
GIFT IFSC continues rapid growth as registrations and re/insurance activity rise
4th June 2026
The latest quarterly bulletin from the International Financial Services Centres Authority (IFSCA) has highlighted the continued expansion of India’s Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), describing it as a transformative element in the country’s financial sector strategy and its integration with global markets. The bulletin said the ... Read the full article
Aon expands Bengaluru’s global capability centre with new facility
3rd June 2026
Global insurance and reinsurance broker and risk advisor, Aon, has expanded its global capability centre in Bengaluru with a new facility at The Earth Centre by Vista Spaces in Whitefield. The broker maintains smooth global operations, with the support of its Global Capability Centres in India, along with a select few ... Read the full article
Chaturbhuj Bansal to lead MAPFRE Re India branch
3rd June 2026
Spanish insurance company MAPFRE's reinsurance branch, MAPFRE Re, has announced the appointment of Chaturbhuj Bansal as Head of its India branch, subject to regulatory approval. MAPFRE Re’s India office was established back in February 2026, in Gujarat International Finance Tec-City (GIFT City), following approval from the International Financial Services Centres ... Read the full article
Howden names new India EVP, Property and Risk Management
1st June 2026
Global insurance and reinsurance broking group Howden has announced the appointment of T S VijayaVenkateswaran as Executive Vice President, Property and Risk Management, India. He brings over 24 years of deep experience in risk management, insurance practice, and claims handling across cargo, engineering, property, and liability lines to his new Chennai-based ... Read the full article
Ruchi Sheth joins Niyam Group as Director – Marine & Energy
29th May 2026
Niyam Group, an Indian-focused reinsurance platform, has announced the appointment of Ruchi Sheth as Director – Marine & Energy. Sheth brings over 23 years of experience in the general insurance sector to her new role, combining deep underwriting expertise in Marine & Energy and strong commercial acumen. The executive will lead the ... Read the full article
Rajesh Laheri to succeed V. Balkrishna as GIC Re CFO
19th May 2026
General Insurance Corporation of India (GIC Re), the Indian public sector reinsurer, has announced that its Board of Directors has accepted the resignation of V. Balkrishna as Chief Financial Officer (CFO) and Key Managerial Person. According to the announcement, the executive is retiring under the company’s Voluntary Retirement Scheme of the ... Read the full article
Zurich appoints Amit Kalra to lead new Global Capability Center in India
28th April 2026
Large international insurer Zurich has launched a new Global Capability Centre in Hyderabad, India, and appointed Amit Kalra as Head of Zurich Capability Centres, effective 1 July 2026. The insurer stated that this move reinforces its focus on advancing technology and artificial intelligence (AI) capabilities to "transform" insurance. The new centre is ... Read the full article
Kuwait Re commences operations from India’s GIFT City
27th April 2026
Kuwait Reinsurance Company K.S.C.P. (Kuwait Re) has announced that it has commenced operations from Gujarat International Finance Tec-City (GIFT City), India’s first International Financial Services Centre (IFSC). Established in 1972, Kuwait Re is a reinsurance provider with offices in Kuwait and Malaysia. The company offers life and non-life treaty and facultative ... Read the full article
Allianz & Jio Financial Services to establish joint venture offering general and health insurance
22nd April 2026
Allianz Group, through its wholly-owned subsidiary Allianz Europe B.V., has entered into a binding agreement with Jio Financial Services Limited (JFSL) to form a 50:50 primary insurance joint venture offering general and health insurance. This agreement formalises a partnership first announced in July 2025, by establishing a domestic reinsurance joint ... Read the full article
ADNIC secures regulatory approval to establish branch in India’s GIFT-City
21st April 2026
United Arab Emirates-based Abu Dhabi National Insurance Company (ADNIC), a multiline regional insurance provider, has received the license to undertake reinsurance business from GIFT City, India’s first International Financial Services Centre (IFSC) in Gujarat, effective April 1st, 2026. ADNIC Group provides insurance and reinsurance coverage worldwide with offices across the UAE, ... Read the full article
Indian April 1 renewal one of the most competitive in recent years: Guy Carpenter
8th April 2026
India's insurers secured some of the most favourable reinsurance terms in recent history during the April 1 renewals, with risk-adjusted rates declining by as much as 30%, reports reinsurance broker Guy Carpenter. Driven by a surge in local capacity and a relatively benign loss year, this renewal season marked a definitive ... Read the full article
India reportedly considering $1.5bn reinsurance fund for vessels travelling through conflict zones
7th April 2026
The Indian government is reportedly considering a $1.5 billion fund to provide reinsurance cover to Indian vessels travelling through conflict zones, such as the Strait of Hormuz, which remains effectively closed to most international shipping due to the ongoing Iran conflict. Reports indicate that the fund is intended to encourage insurance ... Read the full article
Non-life insurers and reinsurers drives growth at India’s GIFT City
7th April 2026
Insurance and reinsurance volumes have expanded rapidly at Gujarat International Finance Tec-City (GIFT City), India’s first operational greenfield smart city, hitting $1.2 billion in 2025 from $102 million in 2020, driven largely by non-life insurance and reinsurance segments, according to a release on ANI. The growth marks an over 11-fold increase ... Read the full article
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