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GIC Re to move its operations from Dubai to GIFT City

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Magazine Issue: 
The insurance market consolidation in view of the post-Covid-19 [3]
Magazine date: 
Jul 2021

General Insurance Corporation of IndiaGeneral Insurance Corporation of India (GIC Re [4]) has decided to transfer its operations from Dubai Financial International Centre (DFIC) to GIFT City (Gujarat International Finance Tec-City), India. This decision is due to the non-renewal of GIC Re's license by the Dubai authorities.

Starting 3 July 2021, the Indian reinsurer's UAE subsidiary will no longer operate from DFIC.

However, the branch will continue to manage the operations in progress as at 3 July 2021.

GIC Re will now run its MENA business from GIFT City located in the state of Gujarat.

Read also | Indian insurance market [5]

Wed, 25/08/2021 - 09:56

Source URL: https://www.atlas-mag.net/en/article/gic-re-to-move-its-operations-from-dubai-to-gift-city

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[5] https://www.atlas-mag.net/en/article/the-specificities-of-the-indian-insurance-market