The branch will be based in GIFT City, India’s operational international financial services centre.
International General Insurance Holdings Ltd. (IGI) has secured registration approval from the International Financial Services Centres Authority (IFSCA) to open a reinsurance branch in India.
The new operation will be based in Gujarat International Finance Tec-City, known as GIFT City, which is India’s first and only operational international financial services centre.
The Nasdaq-listed company will operate the branch through its UK subsidiary, International General Insurance Company (UK) Ltd.
IGI plans to open the branch office, build a local team, and begin operations later this year.
The India office will expand IGI’s existing network of regional operations, which currently includes Oslo, Malta, Dubai, Casablanca, and Kuala Lumpur, as well as principal offices in Bermuda, London, and Amman.
Waleed Jabsheh, President and Chief Executive Officer of IGI, stated that the new branch will focus on supporting local clients with both facultative and specialty treaty reinsurance services.