Abu Dhabi National Insurance Company (ADNIC) has obtained regulatory approval to establish a reinsurance branch in GIFT City, with the license coming into effect on April 1, 2026.
The approval was granted by the International Financial Services Centers Authority (IFSCA), allowing the insurer to conduct reinsurance business from India’s International Financial Services Center in Gujarat.
The authorization marks ADNIC’s entry into India’s offshore financial hub and adds to its existing cross-border reinsurance business in the country.
ADNIC, a regional multiline insurer, has operations in the United Arab Emirates (UAE), Saudi Arabia and the United Kingdom, providing insurance and reinsurance services in global markets.
The planned branch in GIFT City is part of the company’s broader overseas expansion strategy and comes after its recent entry into the Saudi market.
According to the company, the India branch is expected to contribute to long-term growth through expanded revenue streams and better service capabilities for customers in faster-growing markets.
This development is also expected to deepen economic ties between India and the UAE and support stronger bilateral trade and investment flows.
With the license, ADNIC will be able to write reinsurance business from GIFT City, expanding its international presence and increasing its presence in markets it considers important for growth.
This development comes amid broader activity in the Indian insurance market.
Last month, the Insurance Regulatory and Development Authority of India approved two new insurance companies, allowing Allianz Jio Reinsurance and Kiwi General Insurance to start operations.
The regulator issued registration certificates to both companies at its 134th board meeting, allowing the entry of a reinsurer and a general insurer into the Indian market.
Separately, India recently expanded the number of Russian insurers authorized to provide marine coverage to ships arriving at its ports, according to the Directorate General of Shipping.
The list increased from eight to 11. Gazprom Insurance and Rosgosstrakh Insurance were granted permission to offer protection and indemnity coverage until February 19, 2027, while Balance Insurance received approval until August 19, 2026.
“ADNIC gets India approval for GIFT City reinsurance branch” was originally created and published by Life Insurance International, a brand owned by GlobalData.
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