IGI secures approval to open insurance office in India’s GIFT City

International General Insurance (IGI) has received regulatory clearance from the International Financial Services Centres Authority (IFSCA) to acceptable up an IFSCA Insurance Office successful Gujarat International Finance Tec-City, oregon GIFT City, successful India.

The India portion volition run arsenic a reinsurance subdivision of International General Insurance Company (UK), IGI’s UK subsidiary.

The radical plans to motorboat the subdivision successful GIFT City, prosecute locally and commencement concern aboriginal this year.

The caller bureau volition articulation IGI’s determination web successful Oslo, Malta, Dubai, Casablanca and Kuala Lumpur, arsenic good arsenic its main offices successful Bermuda, London and Amman.

IGI writes specialty commercialized security and reinsurance crossed a scope of lines.

Founded successful 2001, the company’s portfolio includes operation and engineering, energy, wide aviation, marine cargo, ports and terminals, and property.

It besides includes contingency, D&O, fiscal institutions, wide third-party liability, ineligible expenses, marine liability, marine trades, governmental violence, nonrecreational indemnity and pact reinsurance.

IGI president and CEO Waleed Jabsheh said: “This is simply a important milestone for IGI arsenic it expands our planetary footprint, strengthening our beingness successful the Indian sub-continent, and provides a semipermanent accidental successful 1 of the world’s fastest-growing economies. This besides furthers our diversification, and our strategy of having a carnal beingness successful our cardinal regions astir the world. We look guardant to gathering a beardown section squad and supporting some facultative and specialty pact reinsurance clients successful this fast-growing region.

“GIFT City IFSC offers an innovative, well-regulated level that opens up caller opportunities for IGI to make globally integrated facultative and specialty pact reinsurance capabilities successful adjacent collaboration with a vibrant ecosystem of cedants and brokers.”

"IGI secures support to unfastened security bureau successful India’s GIFT City" 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.